Aniqah is a retail business. It buys mass produced clothings and sells them in the local market. An extracted trial balance of Assam as at 30 June 2023, which is also its financial year-end, is shown below. Trial balance as at 30 June, 2023 DR RM 000 CR RM 000 Land and building, at cost 500 Office equipment 70 Accumulated depreciation, at 1.7.2022 -building 60 -office equipment 24 Bank loan, due on 31 March, 2024 40 Cost of goods sold 520 Discount allowed 40 Sales return 12 Office supplies expense 8 Sales 970 Inventory (stock in trade), at 30.6.2023 68 Telephone and electricity expense 43 Discount received 37 Cash at bank 28 Provision for doubtful debts, at 1.7.2022 4 Insurance expense 6 Capital, at 1.7.2022 316 Interest expense 11 Bank loan, due on 30.4.2030 60 Wages and salaries expense 82 Transport outwards expense 25 Prepaid insurance 36 Miscellaneous operating expense 6 Accounts receivable 136 Accounts payable _ _80 1 591 1 591 Additional Information: (i) On 29 June 2023, the owner of Aniqah issued a cheque of RM4,000 for his son to pay for his school fees. No accounting entry has been made. (ii) The depreciation charge for building, RM3,000 and office equipment RM14,000 have not yet been provided. (iii) The prepaid insurance of RM36,000, in the above is valid from 01 September 2022 to 31 August 2023. (iv) The interest charges, on the bank loan, for June 2023 was estimated to be RM2,000. No entry has been made. (v) The provision for doubtful debts is to be increased to RM8,000. (vi) The amount of electricity used in June 2005 was estimated to be RM2,000. No entry has been made. Required: a) Prepare a detailed Statement of Financial Performance (Profit & Loss Statement) for the year ended 30 June 2023. b) A Statement of Owners Equity for the financial year and a detailed Statement of Financial Position (Balance Sheet) as at 30 June 2023. c) Name the inventory system used by Assam. Give an advantage and a disadvantage of this inventory system over the other inventory system.