4 Rahul Sign, the owner of Wood Factory Expert (WFE) has the following accounts balance on 31 December 2021. Capital Drawings Sales RM ??? 22,500 2,000,000 Purchases 1,040,000 Return inwards 20,000 Return outwards 10,000 Inventory, as at 1 January 2021 300,000 Delivery van Office equipment Accounts receivable Accounts payable General expenses Insurance Cash in hand Cash in bank Commission received Wages and salaries 60,000 120,000 376,500 80,000 3,000 10,000 15,000 40,000 5,000 100,000 Long term investments Rent received The closing inventory was valued at RM240,000 Required: 600,000 12,000 a. Prepare a Statement of Profit and Loss for the year ended 31 December 2020 (10 marks) b. Prepare a Statement of Financial Position as at 31 December 2020 (5 marks) (Total: 15 marks)