Q$2(25$ marks$)$ Since the year ended on $31$ December $2024,$ you have been busy running the year end reports. You have just completed the trial balance and gathered the relevant additional information all as follows: $$ Tapudzani $($Pty$)$ Ltd Trial Balance as at $31$ Dec $2024.$ Dr Cr Sales $800,000$ Returns inwards $10,000$ Purchases $700,000$ Returns outwards $12,400$ Allowance for doubtful debts $1,600$ Irrecoverable debts written off $400$ Opening inventory $(01/01/2024)200,000$ Rates $12,0005\%$ Debentures $150,000$ Wages and salaries $60,000$ Buildings at cost $80,000$ Delivery Van at cost $60,000$ Telephone $2,000$ Balance at bank $6,000$ Capital $208,000$ Accounts receivable & payables $19,60014,000$ Drawings $36,000$ TOTALS $1,186,0001,186,000$ The additional information is below. a$)$ Closing inventory $31$ Dec $2024,$ $$240,000$ b$)$ Wages were accrued by $$10,000$ c$)$ Corporate tax for the year to $31$ Dec $2024$ was $15,000$ d$)$ Prepaid rates $$1,000$ e$)$ Allowance for the doubtful debts increased to $10\%$ of the accounts receivable. f$)$ Telephone outstanding $$440$ g$)$ Wages and salaries are shared between administration $70\%$ and distribution $30\%.$ h$)$ Depreciation for the buildings @ $10\%$ per annum and van @ $20\%$ per annum on cost$.$ i$)$ The Chief Accountant has now asked to continue to the next stage and prepare the statement of profit or loss account $(14)$ and ii$)$ The Statement of financial position. $(11)$