Alhaji Musa Dangote operates a retail trading business in Kano under the name 'Dangote General Stores'. He has been in business for several years but does not keep a full set of accounting records. His bookkeeper has provided the following information for the year ended 31 December 2023: Assets and Liabilities: 1 Jan 2023 (N) 31 Dec 2023 (N) Premises (cost) 800,000 800,000 Motor vehicle (cost) 350,000 350,000 Accumulated depreciation - Premises 80,000 ? Accumulated depreciation - Motor vehicle 175,000 ? Inventory 120,000 145,000 Trade receivables 85,000 98,000 Cash and bank 42,000 67,500 Trade payables 63,000 74,000 Accrued expenses 8,500 6,200 Prepaid expenses 4,200 5,800 Bank loan (repayable 2026) 200,000 200,000 Additional information: (i) Alhaji Musa withdrew N180,000 cash from the business during the year for personal use and also took goods worth N22,000 at cost for personal consumption. (ii) Alhaji Musa introduced additional capital of N50,000 cash into the business in April 2023. (iii) Depreciation is charged as follows: - Premises: 2% per annum on cost - Motor vehicle: 25% per annum on the reducing balance method. (iv) Total cash receipts from customers during the year amounted to N1,245,000. (v) Total cash payments to suppliers during the year amounted to N892,000. (vi) Other operating expenses paid in cash during the year amounted to N187,500. (vii) Interest on bank loan at 12% per annum is due for the year but has not yet been paid. Required: (a) Compute the opening capital of Alhaji Musa Dangote as at 1 January 2023. (4 marks) (b) Prepare the Statement of Profit or Loss for the year ended 31 December 2023. (12 marks) (c) Prepare the Statement of Financial Position as at 31 December 2023. (9 marks) Total: 25 marks