The following Trial Balance has been extracted from the accounting records of Golden Gate plc at 31 December 209 : The additional information given below relates to the year ended 31 December 209 : - Inventories at 31 December 209 were valued at 26,550,000. - At 31 December 209, distribution expenses outstanding amounted to {24,000. - Administrative expenses include a payment of 72,000 to cover insurance for - A customer who purchased goods for 8,000 on credit has fled the country and assumes the debt is irrecoverable. In addition, the directors consider that a provision for doubtful debts of 2% of the remaining good receivables should be provided. - Depreciation on non-current assets is to be charged at the following rates: - 20% by the reducing balance method on motor vehicles; - 10\% on cost by the straight-line method on plant and equipment; - 2% straight-line method on buildings (NB: Land cost 1,000,000 ). - The corporation tax liability has been estimated to be 150,000. - The second instalment of loan note interest was due but unpaid as at 31 December 209. - The shareholders had approved, and the directors had agreed and announced a final dividend of 2p per share on the ordinary shares, by the year-end. Required 1.1) For Golden Gate plo prepare the Income Statement and the Statement of Financial Position for the year ended 31 December 209. Show all your warkings for relevant adjustments