***** PLEASE ANSWER THE QUESTION BRIEFLY, THANK YOU

The Trial Balance below was extracted from the books of Dirgahayu Enterprise. Debit (RM) 330,000 10,500 Credit (RM) 485,200 9,800 285,000 2000 300,000 9,000 80,000 1,800 28,800 Purchases and Sales Return Inwards and Outwards Capital Drawings Freehold Premises at cost Office Equipment at cost Motor Vehicle at cost Accumulated Depreciation as at 1 January 2018: Office Equipment Motor Vehicle Opening inventories Cash at Bank Accounts Receivable and Accounts Payable Investments 8% Loan from DAMA Bank Dividend on Investment Carriage expenses Rental received Discounts Insurance General expenses Allowance for Doubtful Debts at 1 Janu 2018 Electricity and Water Salaries and Wages Printing and Stationery Repairs and Maintenance 45,000 30,600 81,600 70,000 68,000 100,000 5,100 4,000 20,000 1,500 900 5,000 4,600 1,400 12,400 15,000 3,000 3,000 1,006,600 1,006,600 Additional information: i. Inventories as at 31 December 2018 were valued at RM73, 000. ii. Depreciation is to be provided as follows: Plant, Property and Equipment Office Equipment Motor Vehicle Method of depreciation Straight line Reducing balance Depreciation rate 10% per annum 20% per annum iii. iv. Interest on Loan is at 8% per annum and the Loan was taken on 1 July 2018. The accruals and prepayments for the period were as follows: Accruals Printing and Stationery Repair and Maintenance Rental received RM 600 500 1,200 Prepayments Electricity and Water Salaries and Wages RM 700 1,500 v. vi. The owner took goods worth RM3,000 from the business for personal use. Allowance for Doubtful Debts was to be adjusted at 5% of net Accounts Receivable and additional Bad Debts of RM1, 200 were to be written off during the year. Out of the total carriage expenses, RM2, 100 belongs to Carriage Outwards. vii. Required: a. Prepare a Statement of Profit or Loss for the year ended 31 December 2018. b. Prepare a Statement of Financial Position as at 31 December 2018