Question 1 [33 marks] Sofia Veron owns a business called Greenwell LTD. The following Trial Balance wa: prepared from the accounting books. Greenwell LTD Trial Balance as at 31 July 2021 Additional information as at 31 July 2021: 1. Inventory (Stock) as at 31 July 2021 was 26,650. 2. Wages and salaries accrued were 7,769. 3. Electricity prepaid was 780. 4. Depreciation is to be provided for the financial year as follows: a) Plant and machinery - 10% using the straight-line method. b) Motor vehicles - 25% using the reducing balance method. 5. The Allowance (Provision) for bad and doubtful debts is to be maintained at 5% of Trade Receivables (Debtors) 6. The business received commission of 4,500 by cash on the 31th of July. This was not recorded in the respective ledger accounts. Required: a) Prepare the Income Statement for the year ended 31 July 2021. 16 marks b) Prepare the Statement of Financial Position (Balance Sheet) as at 31 July 2021. 14 marks