The accountant of FID has started to prepare the financial statements for the year ended 31 December 2016. The items included in the trial balance as at 31 December 2016 were as follows:ParticularsAmount (in ‘000)Land100Buildings120Plant and machinery170Accumulated depreciation of plant and machinery120Capital300Receivables197Payables110Inventory190Operating profit835% Loan notes180Cash at bank and in hand12Suspense (may be a debit or a credit balance)???Adjustments; The sales ledger control account figure, which is used in the trial balance, does not agree with the total of the sales ledger balances. A contra of $5,000 has been entered correctly in the individual ledger accounts but has been entered on the wrong side of both control accounts. The balance of $4,000 on sales returns account has inadvertently been omitted from the trial balance, though correctly entered in the ledger records. A standing order of receipt from a regular customer for $2,000, and bank charges of $1,000, have been completely omitted from the accounting records. The loan notes were issued on 1 September 20X6 and no payment of interest had been made by 31 December 20X6.Prepare Prepare a trial balance as at 31 December 2016 and identify the balance on the suspense account. Prepare the journal entries to correct the suspense account balance. Calculate the accrual required for interest on the 5% loan notes. State the journal adjustment required to account for the standing order receipt and thebank charges omitted from the accounting records. Prepare the final accounts (i.e., statement of profit or loss and statement of financialposition) as on 31-12-2016.