The following is the Trial Balance of Munkoyo Limited as at 31 December 2011 You are given the following additional information relating to the year ended 31 December 2011. 1. The equipment is depreciated using straight line method at 20% per annum 2. The value of inventories at 31 December 2011 is K27,000,000 3. Interest on the loan for 2011 has not been accrued. The agreed interest rate on the loan was 6% 4. An invoice of K500,000 for consultancy fees relating to services provided in July was received in January 2012 and is not reflected in the above trial balance. 5. Six months rent of K2,000,000 included in administration expenses, was paid in advance on October 2011. 6. It is estimated that the corporation tax charge for 2011 is K20,000,000 Required: Prepare the following financial statements of Munkoyo Ltd for the year ended 31 December 2011. 1. Statement of comprehensive income 2. Statement of financial position or Balance sheet