Mr.Hafiz is a merchandising enterprise that has business operations in Ipoh, Perak. The following trial balance has been extracted from the enterprise's books as at 31 March 2022.
Hafiz Enterprise Trial Balance as at 31 March 2022
Descriptions	Debit RM	Credit RM
Purchases and sales	377,000	950,000
Plant and machinery	432,000
Vehicles	102,000
Land and building	525,000
Accumulated depreciation: Plant and machinery Vehicles		175,000 39,000
Discounts	1,500	760
Returns	44,000	12,200
Carriage inwards	4,700
Carriage outwards	5,500
Custom duties	15,400
Drawings	3,600
Allowance for receivable		2,000
Salaries and wages	300,000
Electricity and water	65,000
Rent and rates	4,000
Insurance	55,000
Mortgage on land and building		350,000
Repairs and maintenance	6,300
Commission received		95,000
Accounts receivable	187,000
Accounts payable		166,500
Cash at bank	41,000
Capital		429,540
Inventory	51,000
	2,220,000	2,220,000

Other information:
1) Inventory on 31 March 2022 was RM42,800
2) Depreciation provided for the year: Plant and machinery RM25,700 Vehicles RM15,300
3) Provision for doubtful debts amounting to 2% of trade receivable must be provided.
4) Adjustments are as follows: Accrued rent and rates Accrued electricity and water Prepaid salaries and wa9es Prepaid insurance Required:	RM1,000 RM4,800 RM4,500 RM5,000
a) Prepare Hafiz EnterpriseS Income Statement for the year ended (post adjustments) for the year ended 31 March 2022.
(8 marks)
b) Prepare Hafiz Enterprises Statement of Financial Position (post adjustments) as at 31 March 2022.