Nureen Naira is a certified public accountant and owns the audit firm Nureen Associates. The firm has been operating since 2017 offering audit, accounting, and taxation services. Below is the trial balance statement of Nureen Associates for the year ending 31 October The following is information related to accounting records and adjustments: 1. Accounting services for the month of October 2022 have not yet been billed amounting to RM10,200. 2. Previous insurance is paid for a period of one year, starting September 1, 2022. 3. Unpaid utility bills in September 2022 totaling RM2,750. 4. Nureen Associates signed a bank loan agreement amounting to RM90,000 on 1 October 2022. The interest rate is 5 percent per annum (term of 7 years). Instalments payments start on November 1, 2022. REQUIRED: (a) Prepare a Statement of Profit or Loss and Other Comprehensive Income for the year ending 31 October 2022. (7 Marks) (b) Prepare a Statement of Financial Position for the year ending 31 October 2022. (13 Marks) (c) Explain TWO (2) reasons why a company should make an adjusting entry