Alba Bhd has an authorised capital of RM $1,500,000$ divided into $1,100,000$ ordinary shares at RM$1$ each and $400,0004\%$ Preference Shares at Rm$1$ each. The following Trial Balance was extracted from its books on $31$ December $2020$: RM RM Building $($cost$)713,000$ Delivery vans $($cost RM$250,000)170,000$ Discount $($Net$)12,200$ Profit and Loss Balance $1/1/202062,200$ Stock on hand $1/1/202074,500$ Debenture interest for the first six months $16,2003\%$ Investments $1/1/2020350,000$ Patents $($incorporating $4-$month investment income$)21,500$ Purchases and Sales $1,120,0001,495,000$ Dividends Paid $25,000$ Bad Debt Provision $4,000$ Debtors and Creditors $99,20081,100$ Bank $50,000$ Salaries and General expenses $($including suspense$)231,1008\%$ Debentures $400,000$ Issued share capital $$ Ordinary shares $500,000-4\%$ Preference shares $300,000$ Tax payables $5,000$ Advertising $9,600$ Capital Reserves $45,0002,892,3002,892,300$ The following is the information that needs to be considered: i$.$ Stocks on $31/12/2020$ at cost were RM $80,400-$ this figure includes damaged stock which cost RM$6,600$ but which now has a net realisable value of RM$3,200.$ ii$.$ Patents, incorporating $4-$month investment income, are to be written off over $5$ years commencing in $2020.$ iii. The suspense figure arises as a result of the incorrect figure for debenture interest $($although the correct entry has been made in the bank account$)$ and the discount allowed RM$400$ entered only in the discount account. iv$.$ During the year, a stock that had cost RM$6,000$ was destroyed by fire. The insurance company agreed to pay compensation of RM$5,000.$ v$.$ Provide the depreciation expense on delivery vans at the annual rate of $15\%$ of cost at the date of purchase until the date of sale $($NOTE: On $31/3/2020$ a delivery van that had a cost of RM $30,000$ on $31\mathrm{.}3\mathrm{.}2017$ was traded in against a new van which cost RM$56,000.$ An allowance of RM$8,000$ was given to the old van. The cheque for the net amount of the transaction was entered into the bank account but was incorrectly treated as a purchase of trading stock. vi$.$ A new warehouse was purchased during the year for RM $100,000$ with $15\%$ tax. The amount paid to the vendor was entered into the building accounts. vii. The figure for the bank in the trial balance is taken from the firm$$s bank account. However, the bank statement dated $31/12/2020$ shows an overdraft of RM $46,690.$ A comparison of the bank account and the bank statement revealed below discrepancies: a$.$ Two$-$month investment income was directly paid to the bank. b$.$ A payment from the liquidator was received directly into the bank. This represented the first and final payment of RM $0\mathrm{.}25$ in respect of the debt of RM $4,000.$ c$.$ A cheque issued to an advertising firm for RM$560$ had been presented for payment by $31/12/2020.$ viii. The directors recommend that: a$.$ Provision is made for investment income and debenture interest due. b$.$ Provision for doubtful debt to be adjusted to $4\%.$ c$.$ Building to be depreciated by $2\%$ on cost$.$ d$.$ The managing director should be paid a bonus commission of $3\%$ on all sales in excess of RM$900,000$ and a further $5\%$ in excess of all sales above RM$1,200,000$ Required: Prepare all necessary statements which are sttaement profit and loss, balance sheet $,$ statement changes in equity with workings solution