Givn are additional information for Down to Earth Enterprise as at 31 December 2015: 1. Inventory on 31 December 2015 was valued at RM6,500. 2. Accrued revenue and expenses during the year were as follows: i. Discount received ji. Insurance RM200 RM100 3. Prepaid revenue and expenses during the year were as follows: RM400 RM120 i. Commission received i. General expenses Depreciation are to be provided as follows: i. Machinery at 20% per annum ii. Office equipment at 10% per annum 4. 5. Provision for doubtful debts is to be adjusted to 10% of accounts receivables. The following trial balance was extracted from Down to Earth Enterprise on 3 December 2015: Debit Credit RM 12.400 RM | Accounts payables Accounts receivables Bad debts Capital Carriage inwards 9,000 500 90 260 800 200 10.400 3,000 Carriage outwards Cash at bank 540 Commission received Discount allowed Discount received Drawings General expenses Insurance 240 2.700 1 200 1.500 3,600 13 500 90,000 7.000 5 500 Inventory as at 1 January 2015 Land Machinery Office Provision for doubtful debts Purchases & Sales Sales returns & Purchases returns 30,600 500 600 70,400 640 177,540 177,540 From the above information, you are required to: a Prepare Statements of Comprehensive Income (Income Statement) for the year ended 31 December 2015 20 Marks) b Prepare Statements of Financial Position (Balance Sheet) as at that date (20 Marks) (Total: 40 Marks)