Byza Bikes Enterprise is a wholesaler company that sells various types of bicycles. The following is the list of transactions in December 2021. Date Transactions 2 Dec. Makes a payment of RM28,500 to Redza Sdn Bhd for the road bicycles purchased on 25 October 2021. 11 Dec. Sells 12 units of mountain bicycles to Pusat Rekreasi Ulu Merak at a total sales price of RM6,000. The cost of the bicycle is RM300 per unit. The transaction was done by cash. 16 Dec. Accepts a return of one unit road bicycle from a customer due to a slight dent on the bicycle. The bicycle was sold at a price of RM5,000 with a cost of RM3,800. Byza Bikes Enterprise made full cash return to the customer. 28 Dec. Byza Bikes Enterprise delivers the bicycles that have been ordered by Tunaja on 1 November 2021. The bicycles were sold to Tunaja at a price of RM13,500 and Tunaja has fully paid for the bicycles on 1 November 2021. The cost of the bicycles is RM7,800. 31 Dec. Pays utility bill for December that cost RM800. The balances of accounts as at 31 November 2021 are as follows: Debit (RM) Credit (RM) Cash 211,500 Accounts Receivable 14,000 Inventory 328,000 Prepaid Insurance 300 Lorry 64,000 Accounts Payable 38,500 Notes Payable 150,000 Unearned Revenue 13,500 Sales Revenue 345,000 Capital 238,950 Rent Expense 16,500 Salaries Expense 66,000 Utilities Expense 6,750 Insurance Expense 900 Depreciation Expense - Lorry 1,100 Accumulated Depreciation - Lorry 1,100 Cost of sales 78,000 787,050 787,050 4 Additional information: 1. Byza Bikes Enterprise uses calendar year basis. 2. A 12-month insurance policy amounted RM1,200 was purchased on 1 March 2021. 3. Total salaries expense and rent expense paid for the year 2021 are RM72,000 and RM18,000 respectively. 4. Byza Bikes Enterprise uses perpetual inventory system. REQUIRED: (a) Prepared all journal entries (including adjusting entries) for December 2021. (11 Marks) (b) Prepare Statement of Profit or Loss and Other Comprehensive Income for Byza Bikes Enterprise for the year ended 31 December 2021. (3 Marks) (c) Identify the ending balance of inventory as at 31 December 2021. (1 Mark)