(b) Prepare the Statement of Profit and Loss al Feebie Bhd. for the year ended 31 December 2016 (c) Prepare the Statement of Financial Position for Feebie Bhd. as at 31 December 201 (including the relevant notes to the finance lease commitment) ad signs an agreement on 1 January 2015 to lease electronic equipment fr The term of the non-cancelable finance lease is five years with no re new 7 We om lly Berh Gracia Berhad. e of the equipment is to be passed to Welly Berhad at the end of the lease agreement requires Welly Berhad to make equal annual rental payments of RM20,000 beginning on 31 December 2015. There is an initial direct cost of RM2,500 that has to be borne by Gracia Berhad. Interest rate in the lease is 10% per annum. The equipment has an estimated economic life of five years. The fair value of the equipment at 1 january 2015 is RM90,000. Welly Berhad uses the straight-line depreciation method option. The titl period. The for all equipment. Required (a) Prepare the related journal entries for the year 2015 in the books of Welly Berhad. (b) Prepare extracts of the Statement of Profit and Loss and Other Comprehensive Income for Welly Berhad for the year ended 31 December 2016. (c) Prepare extracts of the Statement of Financial Position for Welly Berhad for the year ended 31 December 2016 (include the notes to the finance lease commitment)