Mr. Bosco has been trading for some years as a wine merchant. The following trial balance has been extracted from his ledger as at 30 April 2020, the end of his most recent financial year. Debit (RM) Credit (RM) 20.000 Trade accounts payable Trade accounts receivable 20.000 Sales 228.200 38.000 Salaries and wages Returns outwards Returns inwards 15.000 5.000 Rentrates and insurance 25.000 Purchases 130,000 65.000 2.400 Provision for depreciation on fixtures and fittings - as at 30 April 2020 Postage stationery, and telephone Inventory as at 1 May 2019 Heating and lighting Fixtures and fittings - at cost 10.000 9,000 110.000 Drawings 20.000 Discounts received 2.000 Discounts allowed 3,000 Depreciation 15.000 Cash in hand 600 5,000 Cash at bank Carriage outwards Carriage inwards 3.000 12.000 Capital 85.000 Bad debts 3.000 Allowance for doubtful debts 800 Advertising 5,000 416,000 416,000 The following additional information as at 30 April 2020 is available: a) Inventory at the close of business was valued at RM15,000. b) Insurances have been prepaid by RM1,000. c) Heating and lighting is accrued by RM1,500. d) Rates have been prepaid by RM5,000. e) The allowance for doubtful debts is to be adjusted to 5% of trade accounts receivable. Required Prepare Mr. Bosco's statement of profit or loss for the year ending 30 April 2020 and a statement of financial position as at that date