5. The following trial balance was extracted from the books of Eliza Boutique as at 31 March 20X3. Debit Credit (RM) (RM) Inventory as at 1 April 20x2 40,000 Sales and purchases returns 4,000 6,000 Carriage inwards 7,000 Duty on purchases 5,600 Carriage outwards 4.400 Purchases and sales 160,000 300,000 Discount received 6.400 Insurance on purchases 5,400 Commission received 4,600 Shop rental 28,000 Salary 33,000 Salesman commission 2,600 Discount allowed 5,200 Interest expense 5,000 Allowance for doubtful debts 1,000 Accumulated depreciation: - Delivery van 28,000 - Costumes cabinet 12,000 - Office equipment 10,000 Delivery van 70,000 Costumes cabinet 60,000 Office equipment 100,000 Accounts receivable 50,000 Accounts payable 40,000 Telephone and electricity 10,000 Insurance 9,000 Cash at bank 50,000 Petty cash 3,000 Loan from Bank Rakyat (10% p.a.) 100,000 Drawings 600 Capital 144.800 652,800 652,800 The following adjustments need to be considered: (a) The shop rental is RM1,000 per month. It was paid in advance for two months. (b) The salary for the fashion designer amounting to RM1,500 remains unpaid. (c) The interest on a loan from Bank Rakyat for half a year was outstanding. (d) One of the customers was declared bankrupt and unable to settle his debts. The customer still owed RM2,000. (e) The allowance for doubtful debts on sundry accounts receivable needs to be provided at 5% ( An annual depreciation needs to be provided as follows: Delivery van 20% on cost Costumes cabinet - 10% straight line basis Office equipment - 10% on cost (9) Ms Eliza, the owner, withdrew petty cash of RM100 and took a dress amounting to RM200 for her daughter's birthday. (h) The inventory as at 31 March 20x3 was RM16,000. You are required to prepare a statement of profit or loss for the year ended 31 March 20x3 and a statement of financial position as at 31 March 20x3