Emerald Berhad, a private company, closes its accounts on December 31 every year. The company reported the following unadjusted trial balance on 31 December, 2017: Credit RM Debit RM 70,000 740,000 74,000 35,000 9,600 100,000 782,000 18,100 519,050 7,800 Land Buildings at cost Accumulated depreciation - building Cash and cash equivalent Prepayment Franchise Sales revenue Sales return Cost of sales Other income Inventory Trade receivables Allowance for doubtful account Unearned rent revenue Administrative expenses Other operating expenses Tax expense Trade payables Other payables 12% Long-term loan Ordinary share capital Retained earnings (as at 1/1/2017) Finance costs 96,000 38,000 2,950 4,800 82,000 39,700 8,600 53,000 6,000 60,000 640,000 92,900 3,600 1,759,65 1,741,550 The following adjustments were unrecorded at year end December 31, 2017: 1. The prepayment account is a 2-year insurance expense paid in advance where the insurance cover from September 1, 2017. Insurance expense is treated as an administrative expense. 2. It is the company's policy to provide annual depreciation of the building at 5% per year on cost. Depreciation is treated as a cost of sales expense. 3. The unearned rent revenue account recorded four months revenue collected in advance on December 1, 2017. The rent revenue is eamed evenly over the four months. 4. RM1,400 of accounts receivable was determined to be uncollectible and will be written off. Bad debt expense is estimated at 0.25% of net sales revenue. Required: a) Journalise the above transactions b) Prepare statement of profit or loss and other comprehensive income and statement of changes in equity for the year ended December 31, 2017, and statement of financial position as at that date