Additional information: 1. Stock at 31 December 2021 amounted to RM31,600 2. At 31 December 2021, prepaid insurance was RM1,500 3. Accrued expenses for salaries was RM850 and accrued expenses for lighting and air conditioning was RM420 4. Depreciation is to be provided as follows: Land and buildings 10% per annum on reducing balance Office equipment 5% per annum on cost Motor vehicles 10% per annum on cost Required: Prepare the income statement for the year ended 31 December 2021 and a statement of financial position as at that date. Question 1 The following is Mickey's trial balance as at 31 December 2021: Credit RM Debit RM 285,100 103,400 95,800 22,500 13,600 18,400 25,600 35,500 21,300 8,500 7,200 125,900 Land and Building(Cost) Office Equipment (Cost) Motor Vehicles (Cost) Provision for Depreciation: Land and Building Office Equipment Motor Vehicles Stock, 1 January 2021 Debtors Creditors Bank Cash Capital Drawings Long term Loan Sales Purchases Salaries Return inwards Return outwards Lighting and air-conditioning Insurance Bad debts Discounts allowed General administration expenses Selling expenses 9,300 5,000 545,800 125.600 16,700 6,200 4,100 3,300 2.800 2,200 1,500 12.300 15.600 756,600 756,600