Question: Question 3 Sha: Do you know something about the Statement of Financial Position (SOFP)? Don: What's that? She: The SOFP is actually not a part

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Question 3 Sha: \"Do you know something about the Statement of Financial Position (SOFP)?\" Don: \"What's that?" She: \"The SOFP is actually not a part of the double entry system.\" Don: \"Are you sure? But when I close the ledgers, its balances are all shown in the SUPP\" Sha: \"Yup, I am pretty sure. Did you forget that the SOFP doesn't have closing balances?" Don: \"Oh yeah. . .\" Required: Based on the above conversation, discuss on the implications in which the Statement of Financial Position (SOFP) not being part of the double entry system

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