Doralin Sdn Bhd has been in business for several years but did not keep a complete set of books. Mrs Shuhadah, the owner has approached you to assist her in preparing the financial statements for the year ended 31 December 2019. The following is the trial balance extracted from the books of Doralin Sdn Bhd: Doralin Sdn Bhd Trial Balance as at 31st December 2021 Account Debit Credit ($) (S) Return Inward and Outward 660 800 Carriage outward 2,500 Drawings 4,400 Allowance for doubtful debts 1,700 Bad debts 2,300 Insurance 2,200 Carriage inward 1,500 Commission received 2,400 Discount allowed 1,000 Discount received 1,200 Motor expenses 1,160 Household expenses 1,600 Salaries 11,000 Utilities 3,180 Interest on loan 1,200 Accounts receivable 23,000 Accounts payable 22,500 Bank 28,000 Loan from CIMB 30,000 Inventory (1st January 2021) 8,250 Purchases 59,000 Sales 124,260 Machinery 65,000 Motor Vehicles 48,000 Accumulated depreciation: 19,200 Machinery 9,600 Motor Vehicles 52,290 Capital Total 263,950 263,950 Through your investigation, you also discovered the following information: a. Inventory as at 31st December 2019 was $11,200. b. You discovered that there is one invoice of $400 which was overdue for more than a year. Mrs. Shuhadah decided to write this off as he considered this as uncollectible. c. Depreciation for the year is to be provided as below: Machinery $4,580 Motor Vehicles $4,800 d. Household expenses represent expenses for the owner's personal life, which she didn't know she supposed to be separate from business expenses. e. Allowance for doubtful debt was to be adjusted to 10% of credit sales $25,000. f. Insurance expenses were paid by the company for the period of April 2019 to March 2020. g. The business has the following outstanding expenses at the end of the year: Carriage inwards $560 Salaries $700 h. As an effort that you make to help Mr. Jason preparing the financial statement, you are charging accounting fees to the company amounted $2,000. And this expense has not yet been recorded until at the year end. Required: 1) Prepare Income Statement for the year ended 31st December 2019. 2) Prepare Statement of Financial Position as at 31st December 2019.