Tiana Daniles is the sole owner of T-Square Enterprise located in Spanish Town, St. Catherine. The business' trial balance on December 2021 was as follows: Trial Balance at 31 December 2021 Accounts payable and receivables Bad debts Bank Loan (repayable March 2022) Capital Carriage Inwards Bank Drawings Motor Vehicle: Cost Provision for depreciation at 1 January 2021 General expenses Insurance Interest on bank loan Inventory at 1 January 2021 Premises: Cost Provision for depreciation at 1 January 2021 Provision for bad debts Purchases & Revenue Dividend received Salaries DR 243,200 9,200 24,800 30,800 284,400 485,000 119,300 63,200 9,000 558,600 3,600,000 4,121,100 CR 294,000 120,000 2,692,400 225,000 144,000 9,500 6,937,200 74,700 948,200 10,496,800 10,496,800 Footnote: A. B. 1. Inventory valued at $492,500 2. Prepaid expenses: General expense $1,200 Insurance $3,300 3. Salaries due but unpaid $28,800 4. Dividend received in advance $2,100 5. Tiana's policy is to maintain the provision for bad debts at 5% of accounts receivable at the year end. 6. Depreciation: Premises - 2% per annum- straight line method Motor Vehicle-20% per annum- reducing balance method Prepare the business Income Statement for the year ended 31 December 2021. (9 marks) Prepare the Balance Sheet as at 31 December 2021. (11 marks)