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Question Three The following trial balance was extracted from the book of Chaha, a sole...

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Question Three The following trial balance was extracted from the book of Chaha, a sole trader, at the clo business on 31 October 2022: Additional information: (a) Stock as at 31 October 2022 - Sh.3,040,000. (b) The company decided to increase its provision for the year to Sh. 260,000 in total. (c) Sh. 70,000 wages remained oustanding on 31 October 2022. (d) Sh.60,000 rates were paid in advance on 31 October 2022. (c) Provision for depreciation: Office furniture 20% on cost Delivery van 30% on book value Required: Prepare income statement for the year ended 31 October 2022, together with financial po statement as at that date. (20Mks)

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