The following is the Trial Balance of Kama Enterprise, a dealer in Oracle Software, as at 31^st December, 2019.

	DR	CR
	GHS	GHS
Capital		240,000
Receivables and payables	159,000	51,000
Inventory	99,000
Motor vehicles: (cost)	72,500
Accumulated depreciation		32,500
Office equipment: (cost)	90,000
Accumulated depreciation		30,000
Administrative expenses	26,000
Purchases and sales	243,750	490,500
Employee benefits	33,000
Selling expenses	20,000
Plant: (cost)	125,000
Accumulated depreciation		37,500
Discounts	7,500	12,500
Accruals		79,000
Investment income		27,500
Returns	12,000	17,500
Cash and cash equivalents	126,750
Allowance for doubtful debts		14,000
Bad debts	17,500
	1,032,000	1,032,000

Additional information available is given below:

1. The inventory sheets as at 31/12/2019 put the value of inventory at GHS129,500.
2. Allowance for doubtful debt is to be increased to GHS19,080 as at 31 December 2019.
3. An amount of GHS6,000 in respect of rent and rates is included in administrative expenses. This amount relates to 2020 financial year.
4. All items of property, plant and equipment are depreciated at the rate of 10% per annum on the straight line basis.
5. An amount of GHS10,000 incurred in the repair of plant had been debited to the plant account.
6. Personal withdrawal of cash amounting to GHS25,000 was made by Mr. Kama, the proprietor. This has not been recorded in the financial records.

Required: Prepare

1. Statement of Profit or Loss and other Comprehensive Income for the year ended 31st December, 2019.
2. Statement of financial Position as at 31st December, 2019.