Oresti (4 marks) Happy Farm Limited started operation on 1 December 2009. The prepared the following Adjusted Trial Balance 31 December 2019. However, the accountant la adjusted for the depreciation and income tax Happy Farmited Adiutat Thaan 31 December 2019 C. $9.90 00 39.00 $500 $240.000 Cat Inventory Account receivable Prepaid Linexpired insurance Office supplies Rentalment Notes payable Accounts payable Une med en fees Dividend payable Interessable Share caritalar Share premium ordinary Dividende Sales Cesterods sold Salaries Maintenance expense Utilities expense Interest expense Office replies expose $100.000 5200 SLO B000 5500 $160000 S200 1.800 59,300 $50 5366.600 Required ) Suppose Happy Farm Limited purchased all rental equipment by cash on the first day of business, with estimated useful life of years and residual value of $3.000. It ses double declining hulance method with partial year depreciation rounded the full mooth Prepare the adjusting entry of depreciation 31 December 2019 mark b) Prepare the income statement and statement of retained caring for the year ended 31 December 2019. Assume an income tax te of 40% mark) c) Prepare the statement of financial positions at 31 December 2019 (12 marks) (Detailed information about the ordinary shares Se authorised insedding is not required in this part) & Suppose that Happy Farm Limited stated operation 1 December 2019 within of 50,000 shares of $10 per value and where and 1,000 te preference shares of 5100 per value. Tey had following is in 2000 10 Jan Issued 500 preformee shares for $120,000 case 31 Jan Repurchased 13.00 dinary sharialo 550.000 26 Feb Reissued 400 truy shares a $52 Jus Reunad 200 traryaret 46 3) Record the above insactions 2020, Happy Farm de 31 December 2020