310 Smarto' Jangchi Enterprise (SJE) is a retailing business that buys and sells smart gadgets. It is owned and run by Smart Aleck in a shopping mall. Its financial year ends at 31 October, each year. The trial balance below was extracted from the books of SJE as at 31 October 2021. Debit Credit Account Title RM'000 RM'000 Accounts payable 220 Accounts receivable Accumulated depreciation, fixtures and fittings, 1.11.2020 45 Accumulated depreciation, office equipment, 1.11.2020 95 Allowance for doubtful debts 12 Bad debts recovered 9 Bank loan payable 200 Cash at bank - Junebank 11 Cash at bank - Mayubank 75 Discount allowed 21 Discount received 30 Dispatch and communication expense 25 Fixtures and fittings, at cost 230 Import duties 13 Interest expense 15 Inventory at 1.11.2020 135 Occupancy expense 37 Office equipment, at cost 150 Prepaid insurance 24 Purchases 1,400 Repairs and maintenance expense 14 Salaries and commission expense 292 Sales return 20 Sales revenue 1,950 Smart Aleck, Capital 228 Smart Aleck, Drawings 32 Sundry expense Training and consultancy revenue 20 Transport on purchases 21 2.820 2.820 6 You are also provided the following additional information: (i) SJE's inventory at 31 October 2021 was valued at RM149,000 at cost and RM157,000 at net realizable value. (ii) The prepaid insurance is for two years ending 31 October 2022; Interest expense for the final quarter of the financial year was RM5,000 was due, unpaid and not recorded. (iii) Depreciation expense fixtures and fittings was RM13,000 and for office equipment was RM15,000 for the financial year. They had not yet been adjusted. (iv) During the year no bad debts were written off. However, the allowance for doubtful debts is to be increase to RM15,000. (v) Occupancy expense of RM12,000 was for a private room in the shopping mall for the family of Smart Aleck. (vi) SJE conducts training and consultancy for gadget geeks, upon request. No adjustment has been made for RM6,000 training and consultancy revenue received in advance. ( REQUIRED: (a) Prepare a detailed income statement for the year ended 31 October 2021; (b) Prepare a statement of changes in owner's equity for the year ended 31 October 2021; and (c) Prepare a detailed balance sheet as at 31 October 2021