The following is the trial balance of John Ltd as on 31 December 2021 (P) (P) Share capital issued: ordinary shares 20 thebe 380 000 Receivables and Payables 170 600 75 900 Inventory 31 December 2020 81 300 Bank 17 900 Premises at cost 265 000 Machinery at cost 109 100 Motor vehicles at cost 34 700 Premises: Accumulated depreciation 31 December 2020 60 000 Machinery: Accumulated depreciation 31 December 2020 41 400 Motor vehicles: Accumulated depreciation 31 December 2020 18 200 Sales 976 600 Purchases 623 800 Motor expenses 5 300 Repairs 4 600 Sundry expenses 2 900Wages and salaries 246 500 Directors remuneration 82 600 Retained earnings as at 31 December 2021 32 200 General reserve 60 000 1 644 300 1 644 300 Additional information i. Authorised share capital: P400 000 in ordinary shares of 20 thebe. ii. Stock at 31 December 2020 is P100 000. iii. Motor expenses owing P280. iv. Ordinary dividend proposed of 1 per cent of share capital. v. Transfer P5 500 to general reserve. vi. Provide for depreciation using straight-line method: motor vehicles and machinery 20%, premises 5%. REQUIRED Prepare the Statement of income for the year ended 31 December 2021, and a statement of financial position as at that date.