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Encik Rashid owns and runs a small business called 'Kedai Runcit Rashid', which has the following account balances as of 31 December 2021 . Required

image text in transcribedimage text in transcribed Encik Rashid owns and runs a small business called 'Kedai Runcit Rashid', which has the following account balances as of 31 December 2021 . Required 1. Prepare an income statement for the year ended 31 December 2021; and 2. Prepare a balance sheet as of 31 December 2021

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