The following trial balance has been extracted at 31st December 2018 , from The following adjustments are to be taken into account: (i) Inventory at 31st December 2018 was valued at Rs 300,100 . (ii) A customer with a long-standing debt has been declared bankrupt and no recovery is expected. His debt of Rs 25,000 is to be written-off. (iii) The provision for doubtful debts should be adjusted to 3% of the year-end trade receivables. (iv) Rs30,000 of the carriage represents transport costs in delivering goods to customers. (v) Electricity due was Rs 3,500, advertising prepaid were Rs30,000 and commission of Rs 10,000 were owed to the business. vii) Depreciation is to be provided on property at 5% per annum using the straight line method; and 20% on computer equipment using the reducing balance method. EQUIRED: Prepare Mr Jean Blond income statement for the year ending 31st December 2018. 25 mark Prepare a statement of financial position as at 31st December 2018. (15 marks)