Alice is in a business as a retailer. She does not keep a full set of accounting records. Below are the few details of information that are available: 800 1 April 2017 31 March 2018 RM RM Land (Cost) 20,000 20,000 Motor Vehicle (Cost RM 6,000) 4,500 Inventory 7,000 8.000 Trade debtors 1,000 2,000 Prepayments - Motor vehicle expenses 400 600 - Insurance 100 200 Cash at bank 1,100 1,900 Cash in hand 200 900 Loan from Shandy 20,000 Trade Creditors 3,000 3,600 Accruals - Electricity 400 - Motor vehicle expenses 400 200 Below are the receipts and payments extract from the cash book for the year ended 31 March 2018: RECEIPTS RM Cash Sales 160,800 PAYMENTS Cash purchases 34,000 Drawings 14,000 General shop expenses 200 Telephone 200 Wages 6,000 Below are the receipts and payments extract from the bank book for the year ended 31 March 2018: RECEIPTS RM Cash Banked 105,700 Cheques from debtors 17,500 PAYMENTS Cheques to suppliers Loan repayment (including interest) Electricity Motor Vehicle Expenses Insurance Rates Telephone Drawings 94,400 20,200 800 2,000 300 600 600 3,500 Additional information: Depreciation is to be provided on the motor vehicle at a rate 25% per annum on cost. Required: Calculate (4 marks) (ii) (2 marks) marks) (iv) Prepare Statement of Profit or Loss for the year ended 31 March 2018. (10 marks) (v) Prepare Statement of Financial Position as at 31 March 2018. (8 marks)