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Question 1. 1 (10) The following information relates to the business of Maria & Co for the year ended 31 Dec 2020. Particulars Debit Credit Rs(000) Rs.000) Capital account 1 Jan 2020 13,640 Building at cost 7,500 Furniture at cost 2,000 Motor cars at cost 6,300 Accumulated depreciation- Motors cars 2,370 Accumulated depreciation-Furniture 800 Accumulated depreciation - Building 450 Inventory 1 Jan 2020 6,740 Purchases 54,520 Sales 79,060 Salaries 8,760 Rates 1,170 Office expenses 3,950 Motor expenses 3,790 Drawings 4,800 Allowance for doubtful debts 600 Bank loan 4,000 Receivables 9,240 Payables 10,040 Bank balance 2.190 Total 110,960 110,960 Additional information is following Inventory at 31 Dec 2020 was Rs.7,330,000, Rates paid in advance at 31 Dec 2020 amounted to Rs.250,000, Allowance for doubtful debts is to be equal to 5% of receivables at 31 Dec 2020, Depreciation on building is 1%, Furniture is 10%, Motor cars is 20% using straight line method, Interest on loan at 5% has to be accrued. a. Prepare Statement of comprehensive income for the year ended 31 Dec 2020. (5) b. Prepare Balance sheet as at 31 Dec 2020