The following trial balance has been extracted from the ledger of Tho. 40 Marks Trial balance as at 31 December 2015 Debit Credit Bank overdraft Accumulated 73 000 Capital Buildings Vehicles 11 000 139 300 164 000 52 000 18 000 52 Receivables control Payables control Accumulated depreciation-vehicles 40 000 25 000 14 000 Interest income Wages and salaries Freight (out) Long term Loan from K Steyn 332 000 3 000 50 000 203 000 Purchases 10 000 Rent expense (note 6) Sales 552 000 bad debts 63 300 Inventories 1 Jan 2015 904 300 904 300 You obtain the following additional information, which was not taken into account when preparing the above trial balance: 1. You have to provide for N$500 interest on the bank overdraft 2. An amount of N$120 000 was paid for an extension to the buildings. This amount was debited to wages and salaries. 3. Furniture to the amount of N$21 000 was purchases on 1 July 2015.This amount was debited to the purchases account. No furniture was sold during the year 4. During the year N$5000 was written off as bad debts. The accountant incorrectly recognised the following journal entry Dr Sales Cr. Bad debts N$5000 N$5000 5. On 31 December 2015 interest of N$1300 was receivable. No provision was made for this amount 6. For its marketing campaign, an office space is rented amounting to N$12 000 per annum, however only N$10 000 was paid. Question 3 (continued) 7. Depreciation must be provided for 2015 as follows: Furniture: 10% per annum on the straight line method Vehicles: 20% per annum on the diminishing balance Required: ) Prepare a statement of profit or loss of Apollus for the year ending 31 December 2015 (20 marks) ) Prepare the statement of financial position of Apollus as at 31 December (20 marks) 2015