2 The accounts' balances for Perniagaan Kita as at 31 December 2020 are as follows: Accounts Debit RM Credit RM Cash 11,400 Accounts receivable 3,500 Prepaid insurance 3,150 Office supplies 1,250 Office equipment 10,650 Accumulated depreciation - office equipment 4,500 Building 183,250 Accumulated depreciation - building 14,375 Wages payable 2,625 Interest payable 2,750 Notes payable 27,000 Capital, Perniagaan Kita 129,650 Service revenue Wages expense Utilities expense 73,000 9,000 2,750 Insurance expense 2,550 Maintenance expense 5,125 Interest expense 12,750 Office supplies expense 3,250 Depreciation expense - office equipment 1,500 Depreciation expense - building 3,775 Total 253,900 253,900 Required: a. Prepare the income statement for the year ended 31 December 2020. b. Prepare the balance sheet as at 31 December 2020