It Financial statements (40 points) From the following information of the accountira book of Hope Dunn, draw up (1) an Income statement for the year pode December 2019 in) - 20 points (2) Prepare a Balance Sheet as at 31 December 2019 in ) -20 points (3) Before preparation of financial statement please take into account additional information that is given below 400.000 91.000 255,000 35.000 51.000 16.000 22 000 3.500 19.000 800 4,070 15 000 2,600 Premises Purchases Sales Fixtures and Fittings Motor Cars Allowance for Depreciation - Foctures and Fittings Motor Cars Bank Stock of goods at 1st January 2019 Cash Postage expenses Rent Return outwards Return inwards General expenses Discount Allowed Discount Received Accounts Payable (Trade creditors) Loan Interest Capital Salaries Insurance Motor expenses Accounts Receivable Trade Debtors) Commission Received Carriage Inwards Carriage Outwards Drawings Bank Loan (till 2022) Total 1,100 11.250 2.600 1.250 29 450 13 200 200,000 27. 200 3400 8.100 44 500 12,000 1,550 930 25000 220.000 758,200 758,200 Additional information as at 31 December, 2019 (Adistment is also available 1. Closing stocks 23.000 2. Motor expenses owing 6250 F450 3. Insurance prepaid 500 4. Rent prepaid 5 Motor Cars are to be depreciated at 25% per annum on cost 6. Factures and Fittings are to be depreciated 15% at cost 7. Premises are nor depreciated