2 Puncak Niaga Enterprise Statement of profit or loss for the year ending 31 December 2017 RM Gross profit Add Reduction in allowance for doubtful debt 34 Profit on sale of equipment 1000 RM 155,030 1034 156,064 Less expenses Wages & salaries 61,400 General trading expenses 1,200 Equipment running cost 8,140 Motor vehicle expenses 6,390 Depreciation: Motor vehicles 5.660 Depreciation: Equipment 9,600 Rental 14.000 106,390 49,674 Statement of Financial Position as at 31 December 2016 2016 2017 2017 RM RM RM RM Non-current Assets Equipment at cost 38,500 48,000 Less Depreciation to date 7,700 30.800 9.600 38,400 Motor vehicles at cost 28,300 28,300 Less Depreciation to date 11,320 16,980 16,980 11,320 47,780 49,720 Current Assets Inventory 41,230 38,900 Accounts receivable less allowance 21,070 19,404 Bank 6,758 69.058 14,088 72,392 Total assets 116.838 122,112 Current liabilities Accounts payable 14,300 12,900 Non-current liabilities Loan from Encik Yussof 30,000 44.300 25,000 37,900 Capital Opening balance bid Add Net profit 63,000 41,538 72,5381 49,674 Less Drawings -32,000 72.538 -38,000 84,212 Total equity and liabilities 116.838 122,112 Note: 0 0 Equiqment was sold for 31800. New equipment costing 48000 was purchased in 2017. Depreciation is 20% straight line for motor vehicle and equipment. Accounts receivable 2016 is RM21500 less allowance RM430 Accounts receivable 2017 is RM19800 less allowance RM396 Required Prepare a statement of cash flows for the year ended 31.12.2017