Assignment Exercise 1: Preparing Income and Expense Statement: Sara and Rahim are about to construct their income and expense statement for the year ending August 31, 2020. They have put together the following income and expense information for 2020: RAHIM's salary OMR. 5200 Sara's Salary OMR. 4000 Rent received OMR. 2000 Interest on: Fixed account 300 Bonds of Sama Corporation 500 Groceries 600 Rent paid 500 Utilities 80 Gas and auto expenses 20 500 KIDS tuition, books, and supplies Books, magazines, and periodicals Clothing and other miscellaneous expenses 40 1600 Rahim's travel expenses 400 Purchase of a used car (cost) 6560 Outstanding loan balance on car 2780 Purchase of bonds in Sama Corporation 678 Using the information provided, prepare an income and expense statement for Sara and Rahim for the year ending August 31, 2020