Based on case 1, find the TOTAL EXPENSES of Triple SM Iron Works Trading for the year ended 31 December 2019. (7 marks) * Triple SM Iron Works is owned by Encik Sazali and located in Bandar baru Nilai. The business is one of the top manufacturers of all kinds of metal works for commercial and residential projects. It specialises in manufacturing grill, gate, staircase, awning, fencing as well as supplying stainless steel, wrought iron, metal and other accessories The business was commenced on 1 January 2019 with contribution of RM80,000 by its owner. Encik Sazali also brought his own car worth RM15,000 into the business as part of his capital A 10-year loan of RM100,000 from HBSS Bank was obtained as additional fund. The interest on loan is to be charged at 8% per annum RM20,000 of the fund was used to buy a lorry and RM50,000 for machinery for the business. The depreciation on the non-current asset is to be provided using straight line method at 10% per annum and the method is expected to be used in the following years. As for the 12 months operation, the following figure have been produced Particulars Metal and Iron Salaries Commission received Advertising Electricity Rental expense Sales Interest received RM 10,000 40,000 3,000 1,000 2,200 14.400 45,000 1.200 case 1