To be done in groups and submitted in Mircrosoft Word. The following Trial Balance was prepared from the books of Maxwell Productions Ltd on December 31, 2010 and presented to you the Financial Accountant for analysis: (CLO 3) Notes: (b) A Balance Sheet as at December 31, 2010. (24 marks) (i) Depreciation is to be charged as follows: motor vehicles 20% reducing balance; office furniture and fittings 10% straight line; and plant and machinery 10% reducing balance. (ii) Insurance amounting to $120,000 was unpaid as at December 31,2010. (iii) Motor vehicle expenses are to be apportioned 3:2 between factory and office respectively. (iv) The company adds 10% factory profit to its cost of production. (v) Rent expense is to be apportioned 3:1 between factory and office respectively; 60% of the insurance relates to the factory; and 3/4 of the electricity usage relates to the factory. (vi) Commission revenue amounting to $150,000 was due to the company as at December 31, 2010. (vii) The provision for bad and doubtful debts is to be adjusted to 121% of debtors. (viii) Indirect factory wages accrued as at December 31, 2010 amounted to $180,000. (ix) Stocks as at December 31, 2010 were as follows: Work in progress $4,900,000; Finished goods, $7,700,000 and direct raw materials, $5,000,000. Required: (a) Prepare Manufacturing, Trading and Profit and Loss Account for the year ending December 31, 2010. (56 marks)