Fobam Sdn. Bhd.
Trial Balance as at 30 November 2020
Account	RM	RM
Bank overdraft		278,050
Vehicle rental expense	72,000
Cash at bank	7,500
Investment in government bonds	400,000
Interest revenue		30,000
Insurance expense	3,000
Land	230,000
Buildings	1,000,000
Office furniture and equipment	127,000
Retained earnings (1st Dec 2019)		89,000
Accum. depr. - office furniture and equipment		23,000
Accum. depr. - buildings		100,000
Cost of sales	208,600
Prepaid advertising expense	12,300
Sales returns and allowances	8,700
Sales		683,320
Mortgage payable		90,000
Inventory	124,000
Ordinary share capital		1,140,000
Preference share capital		250,000
General reserve		33,000
Interest expense on overdraft	11,300
Discount received and allowed	13,000	15,250
Rental revenue		27,900
Accounts payable and receivable	210,700	219,700
Salaries of sales staff	60,000
Administrative wages	148,620
Income tax paid	6,500
Directors' remuneration	150,000
Preference dividend	36,000
Ordinary dividend	150,000
	2,979,220	2,979,220

Additional information available on 30 November 2020:

1. Inventory was valued at RM122,000.
2. Provide for 10% per annum depreciation on cost of buildings and 5% per annum depreciation on cost of office furniture and equipment.
3. It was found that one third of the interest revenue RM30,000 should be reported in the next financial reporting period.
4. Of the Prepaid Advertising expense account balance of RM12,300; RM3,300 is paid to the local newspaper for advertising space in November 2020 papers. The remainder if the balance is used up by January 2021.
5. Salaries of RM10,000 were still owed to employees.
6. Accrued insurance expense were RM1,000.
7. An amount of RM20,000 is to be transferred from general reserve to retained earnings.

Required:

Calculate the following items required for the preparation of financial statements for Fobam Sdn. Bhd. for the year ended 30 November 2020.

Gross profit =

Total revenues =

Total expenses =

Net profit/loss = +/-

Total assets =

Total liabilities =