1.inventory is 31st December 2022 and not 31st march 2022

Mr.Hafiz is a merchandising enterprise that has business operations in Ipoh, Perak. The following trial balance has been extracted from the enterprise's books as at 31" December 2022. Hafiz Enterprise Trial Balance as at 31 December 2022 Business Accounting (BMG7OJ4)CONFIDENTIAL September 2023 Group assignment Other information: 1) inventory on 31 March 2022 was FM42,800 2) Additional bad debts of RMM1,600 is to be written off. 3) Adjustments are as follows: Accrued rent and rates Fo1,000 Accrued electricily and water RM4, a00 Prepaid salaries and wagesPM4,500 Prepaid insurance PM5,000 Business Accounting (BAAB1014)CONFIDENTIAL September 2023 Group assignment a) Prepare Hafiz Enterprise's income Statement for the year ended for the year ended 31 December 2022 (10 marks) b) Prepare Hafiz Enterprise's Statement of Financial Po sition as at 31 December 2022. (10 marks)