Mock Ware Sdn Bhd closes its accounts on 31 December each year. The following is the trial balance for the year ended 31 December 2019. Particulars Debit (RM) Credit (RM) 201,528 8,932 862 572 528 Sales Salary Return Outwards Return Inwards Rental received Purchases Land Furniture and Fittings (at cost) Motor Van (at cost) Patent Inventory as at 1January 2019 General expenses Utilities expenses Advertising expenses Drawings Discount received Discount allowed Commissions received Cash Carriage expenses Capital as at 1 January 2019 Bank Allowance for doubtful debts Accumulated Depreciation: Furniture and Fittings Motor van Accounts Receivables Accounts Payables 2% Loan from Mel Bank 162,360 25,000 22,000 30,800 4,400 11,880 3,150 3,198 1,000 880 836 1,091 1,056 5,544 1,927 55,200 9,064 1,225 2,200 9,240 12,936 10,859 21,200 304,734 304,734 Additional information: 1. Inventory as at 31 December 2019 was RM 9,250. 2. It is the policy of the business to provide 4% allowance for doubtful debt on outstanding account receivables. 3. Depreciation is to be provided on yearly basis based on the following: Motor van 15% based on straight line method Furniture and Fittings 20% based on reducing balance method 4. Arman, the owner, took RM430 in cash to pay for his child's college fees; and RM240 worth of goods from the business as a gift to his relatives. 5. Dividend amounting RM90 is yet to be received. 6. Prepaid expenses as at 31 December 2019 consist of salary expense amounting RM580. 7. RM1,000 from the total carriage expenses was paid for carriage inwards expenses. 8. Loan from Mei Bank was taken on 1 March 2019. No interest payment has been paid. 9. The expenses below are still outstanding as at year end: Utilities expenses General expenses RM120 RM210 Required: a) Statement of Profit or Loss for the year ended 31 December 2019. b) Statement of Financial Position as at 31 December 2019