(b) Prepare extracts of the Statement of Profit or loss and Other Comprehensive Income for Welly (c) Prepare the Statement of Financial Post 7 Welly Bhd. signs an agreement on January 2019 to lease electronic equipment from Graciald. The term of the finance lease (that disallows cancellation is 5 years with no renewal option. The title of the equipment is to be passed to Welly Bhd. at the end of the lense period. The agreement requires Welly Bhd. to make equal anual rental payments of RM20,000 beginning on 31 December 2019. There is an initial direct cost of RM12.500 that has to be borne by Gracia Bhd. Interest rate in the lease is 10% per annum. The equipment has an estimated economic life of 5 years. The fair value of the equipment at 1 January 2019 is RM90,000. Welly Bhd, uses the straight-line depreciation method for all equipment. Required: Assuming Welly Bhd applies Paragraphs 22-49fMERS 163 (0) Prepare the related journal entries for the year 2019 in the books of Welly thd Bhd. for the year ended 31 December 2020 (e) Prepare extracts of the Statement of Financial Position for Welly Bhd. for the year ended at December 2020. milla nince of land to Lopez Corporation for RM6.000.000, and