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4. The trial balance of Galaxy enterprise as at 31st December 2017 is given in TABLE Q4. Additional information: - Closing stock was valued at

image text in transcribedimage text in transcribed 4. The trial balance of Galaxy enterprise as at 31st December 2017 is given in TABLE Q4. Additional information: - Closing stock was valued at RM24,000. - The business has two workers which are paid RM1,000 per month. One of the workers received two months' salary in advance. - The business owes RM400 for advertising expenses. - Galaxy enterprise has a policy to depreciate all non-current assets using straight line method. Office equipment is to be depreciated at 20%, building at 5% and delivery van at 10%. a. Calculate gross profit, operating profit and net profit for the year ended 319 December 2017. b. Calculate total assets, total liabilities and total equity as at 31st December 2017

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