Enterprise as at 31 March 2022: Particulars Sales Debit Credit (RM) (RM) 185,000 Purchases Return outwards Return inwards Discounts 94,000 3,750 8.750 3,500 1,500 Carriage outwards 250 Duty on purchases 940 Inventory as at 1 April 2021- 12,000 Salary 19,500 Advertisement 1,500 General expenses 700 Stationery 275 Utilities 500 Rental 12,000 Motor vehicle expenses 1,000 Insurance 2,400 Repairs and maintenance 1,500 Interest on loan 1,500 Commission revenue 7,540 Carriage inwards 750 Allowance for doubtful debt as at 1 April 2021 600 5% bank loan Accounts payable Accounts receivable 30,000 15,000 12,500 Fixture and Fittings 7,000 Motor vehicles Machinery 3% Fixed Deposit Accumulated depreciation as at 1 April 2021: Fixture and Fittings Motor vehicles Machinery 25,000 45,000 50,000 Cash in hand Cash at bank Drawings Capital 1,400 5,000 9,000 4.250 5,475 3,500 55,000 313,790 313,790 Additional information: 1. Inventory as at 31 March 2022 was valued at RM15,000. 2. The total amount of interest on loan in the trial balance was for the period of 12 months starting 1 August 2021. 3. RM500 need to be written off as bad debt as one of the credit customer was declared bankrupt and allowance for doubtful debt is to be adjusted to RM750. 4. Depreciations for the year are to be provided on yearly basis as follows: -10% per annum on cost Fixture and Fittings - 20% per annum on cost -10% per annum on carrying Motor vehicles Machinery amount 5. The owner took goods worth RM500 for his personal use and no record has been made. 6. The 3% fixed deposit was invested by the business on 1 April 2021. The interest on fixed deposit was still outstanding on 31 March 2022. 7. The following adjustments are to be considered for the period: Prepayments RM Salary 1,500 Accruals RM Utilities 500 Commissions revenue 600 Required: a. The Statement of Profit or Loss for the year ended 31 March 2022. (20 marks) b. The Statement of Financial Position as at 31 March 2022. (12 marks) Note 1: Use vertical format presentation for both statements and show all calculations. Note 2: Calculate to the nearest RM