The statement of the financial position of Excellence Enterprise given below did not agree and the balance of GH26,940 was entered in the suspense account EXCELLENCE ENTERPRISE STATEMENT OF FINANCIAL POSITION AS AT BOTH JUNE 2013 Not-Current Auto Ces Depreciation Netlobe Valer Gille GH GH 16.000 56.000 Furniture & Fit Delivery Vam 12.00 100.000 0.000 49 000 H 4.000 12.000 IR 300 (7.2003 Current A Laveny Accounts receivable cash bank Current Accounts payable Net Net Pinanced By: Capital Net profit for the year Suspense 71.100 10 32.10 26.0 71.100 Upon investigations, the following errors were discovered: Accounts payable had been understated by GHc6,000. (ii) The sales figure for the period was understated by GH540. (in) The closing inventory amounted to GH67,200 but the amount stated in the statement of financial position was the beginning inventory. (iv) A loan from the D-Bank of GH3,000 was credited to the income statement. (v) Discount allowed of GH600 had been credited to the income statement and discount received of GH900 had been debited to the income statement. (vi) Drawings of GH6.000 had been debited to the income statement (vii) A new delivery van costing GH3.000 had been debited to the delivery van running expenses. It is the policy of Excellence Enterprise not to charge depreciation in the year of purchase. (viii) The balance on the allowance for bad debts account of GH1.080 as at 1 July 2018 had been credited to the income statement account. The bad debt allowance should have been made equal to 10% of account receivables as at 30th June 2019, (ix) Depreciation is charged on the furniture and fittings at the rate of 20% per annum on cost, and on delivery van at the rate of 50% on the reducing balance. The depreciation for the year to 30th June 2019 had been correctly charged to the income statement for the year but no adjustments had been made elsewhere. You are required to prepare: a) A statement correcting the net profit for the year. b) The corrected statement of financial position as at 30th June 2019