Help me please with complete solution and clear explanation. Thank you. Use excel to compute faster for 2017 and 2016 required.

Rainbow Trading Statement of Financial Position trade 300 As of December 31 29162 19V blot 2bood lo 180) Assets 2017 2016 Current Assets Cash 58,000 P 64,000 Trade Receivables 228,000 170,000 Merchandise Inventory 226,000 222,000 Prepaid Expenses 12,000 16,000 Total Current Assets 00.38 P 524,000 P 472,000 Property, Plant, and Equipment (net) 1,050,000 816,000 Total Assets P 1,574,000 P 1,288,000 Liabilities and Owner's Equity pri gniwollol sololuggno) :bowl;god Current Liabilities Trade Payables P 284,000 while 252,000 Non-Current Liabilities Loan Payable 578,000 396,000 Total Liabilities P 862,000 648,000 Owner's Equity 712,000 640,000 Total Liabilities and Owner's Equity P 1,574,000 F 1,288,000 biged padhow ous tdot