027 Popular Book, a book trading dealer, has extracted the following balances from its ledger on 31 December 2014. RM RM Return Inwards 2.100 Return Outwards 5.200 Carriage inwards 1.100 Carriage outwards 2.700 Loan from MPP bank (short term) 90,000 Inventory, 1 January 2014 18.100 Wages and salaries 122.500 Rent 101,580 Telephone bills 11.300 Side boards 5.400 Building 226.100 Outdoor recreation equipment 9.800 Accounts receivable 31,200 Accounts payable 83,230 Capital 397,350 Purchases 180,000 Sales 230,500 Cash at Bank 34,400 Drawings 60,000 806,280 806,280 Additional information: Inventory at 31 December 2014 RM98,600 Required: (a) Prepare an Income Statement for the year ended 31 December 2014 and (b) Statement of Financial Position as at that date