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QUESTION 2 The following information (Extracted) is related to MIKA Empire for the year ended...

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Accounting

imageimage QUESTION 2 The following information (Extracted) is related to MIKA Empire for the year ended 31st Additional information: 1. The business has only a discount received as their other income. 2. Not all expenses were shown here. You are required to find the total expenses in question (b). REQUIRED: a) Illustrate the following value for the year ended 31st December 2022 : a. Closing capital b. Credit purchases c. Credit sales d. Cost of sales (15 marks) b) Prepare a Statement of Comprehensive Income for the year ended 31st December 2022 and show the total value of expenses. (10 marks) (Sub Total: 25 marks) (GRAND TOTAL: 50 marks)

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