Happy Consignment Berhad is established in year 2019 and the business has prospered. The owner of the company, Lily Arif comes to you for advice. She wishes to know how much net income the business earned during the past year. The accounting records consist of the T-accounts in the ledger, which were prepared by an accountant who has moved. The accounting records as at 31 December 2019 are as follows: Cash 5,800 Accounts Receivable 12,300 Office Supplies 2,600 Bal. Bal Prepaid Rent 2,800 Bal Bali Accumulated Depreciation-Equipment Equipment 52,000 Accounts Payable 18,500 Bal. Bal Salaries Payable Unearned Revenue 4,100 Bal Common Stock 40,000 Bal Bal Dividends 50,000 Depreciation Expense-Equipment Service Revenue 80,700 Salaries Expense 17,000 Bal Bal Advertising Expense Utilities Expense 800 Supplies Expense Bal Lily indicates that, at year-end, customers owe the business RM1,000 accrued service revenue, which the business expects to collect early next year. These revenues have not been recorded. During the year, the business collected RM4,100 service revenue in advance from customers, but the business has earned only RM800 of that amount. During the year Happy Consignment has incurred RM2,400 of advertising expense, but the business has not yet paid for it. In addition, the business has used up RM2,100 of the office supplies. Lily determines that depreciation on equipment was RM7,000 for the year. At 31 December 2019, the business owes its employee RM1,200 accrued salary. To get a loan to expand the business, Lily must show the bank that the business's stockholders' equity has grown from its original RM40,000 balance. Has it? You and Lily agree that you will meet again in one week. Required: (a) Prepare the financial statement for Happy Consignment. (b) Can Lily expect to get the loan? Give your reason(s)