You have been given the latest financial details of the Green Super Market for Financial year ended December 2019. You are required to complete the profit and loss account and the balance sheet in the format provided to you below. Particulars Debit (AED) Credit (AED) 850,000 680,000 190,000 20,000 150,000 51,000 120,000 10,000 Sales Plant Vehicles Goodwill License Cash Receivables Inventory Capital Creditors Loan Notes Administration Distribution Salaries Utilities Expenses Rent Interest Paid Purchases 440,000 152,550 408,000 75,000 30,000 49,000 40,000 66,000 15,050 354,500 1,850,550 1,850,550 Create appropriate trading, profit and loss accounts from above given set of data (P4) Create a Balance Sheet from above given set of data (P5) Assess the importance of a Profit and Loss and Balance Sheet for business organization when making strategic financial decisions. (M1) Evaluate how recording systems can contribute to managing business finances (D1) Greens Supermarket PROFIT & LOSS ACCOUNT For the year ended December, 2019 Sales Cost of Goods Sold Opening stock Purchases for the year Closing stock Gross Profit Operating Expenses Interest Paid Utility Expenses Salaries Rent Distribution Expenses Administration Expenses Net profit Greens Supermarket Balance Sheet As at year ended December, 2019 Non-Current Assets Plant Vehicle Goodwill License Current Assets Cash Debtors Current Liabilities Creditors Loan Equity: Capital