The following Trial Balance was extracted from the books of Timotei on 31st August 2022. Additional Information: 1. Depreciation is provided as follows; a. Fixtures 10% per annum on cost b. Motor Vehicles 20% per annum reducing balance method. 2. Wages of Rs 1,200 were accrued and insurance of Rs 120 had been prepaid at the year end. 3. Closing inventory is valued at Rs 18,000 . 4. Interest on loan is still due. 5. Timotei took goods for his own use which was valued at Rs 2,000. 6. An allowance for receivables (provision for doubtful debts) of 5% is still maintained. Page 2 of 7 REQUIRED: (a) Income Statement of Timotei for the year ended 31st August 2022. (12 marks) (b) Statement of Financial Position of Timotei as at 31st August 2022. (13 marks)