The following is to be taken into account. i) The depreciation is charged on non-current assets at the rate of 20% on a reducing balance basis per year. Depreciation is charged to the administrative expenses. Corporate tax payable is at the rate of 30% per year. VERSITY OF UBIA ECAMPUS LMS ii) Rent paid in advance amounting to K5, 000 was charged to administrative expenses. iii) There is an outstanding transport cost amounting to K4,000. Transport costs are charged to the distribution costs. iv) Final ordinary dividend of 20 ngwee per share is proposed. v) Closing inventory is K40, 000 . Required: a) Prepare the statement of profit or loss and other comprehensive income for the year ended 31st December 2021. b) Prepare the statement of Financial Position as at 31st December, 2021. QUESTION TWO (TO BE ATTEMPTED BY THOSE WHO MISSED FIRST ASSIGNMENT ONE)