QUESTION THREE Mr. Kamau started his business on 1 January 2016 with 35,000 in a bank account. Unfortunately he did not keep proper books of account. He is forced to submit a calculation of profit for the year ended 31 December 2019 to the Income Tax Department. He ascertains that at 31 December 2016 he had stock valued at cost 6,200, a van which had cost 6,400 during the year and which had depreciated during the year by 1,600, debtors of 15,200, expenses prepaid of 310, a bank balance of 33,490, a cash balance 270, trade creditors 7,100, and expenses owing 640. His drawings were: cash 400 per week for 50 weeks, cheque payments 870. Required: Prepare a statements to show the profit or loss for the year ended December 31, 2019. (5 MARKS)