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Credit (RM) 44,700 5.900 Duncan Sdn Bhd Statement of Profit or Loss for the year ending 31 December 2020 Debit (RM) Gross Profits Add: Discounts received 410 Profits on sale of van 620 7,200 10,000 7,500 1,030 Current liabilities Accounts payable Non-current liability Loan Total liabilities Net assets Capital Opening balance b/d Add: Net profit (15,900) 21,410 (14,700) 22.020 45,730 1,940 17,200 830 Less: Expenses Motor expenses Wages General expenses Bad debts Increase in allowance for doubtful debts Depreciation: Van 17,210 21,200 38,410 (17,000) 21,410 21.410 23,240 44,650 (22.630) 22,020 Less: Drawings 520 200 1.800 22,490 23,240 Additional information: i. Accounts receivable 2018 RM8,800 - allowance RM600 ii. Accounts receivable 2019 RM7,700 - allowance RM800. A van was sold for RM3.820 during 2019. No new vans were purchased during the year. ni 2020 RM RM Vans at cost Based on the information given, Statement of Financial Position as at 31 December 2019 RM RM Non-current assets 15.400 Less: Depreciation to date (5.300) 10.100 Current assets Inventory 18,600 Accounts receivable less 8.200 allowance 8.200 (3.100) 5.100 a) PREPARE a statement of cash flow for Duncan Sdn Bhd for the year ending 31 December 2020, using Indirect Method. 24,000 6.900 Bank 410 720 Total Assets 2210 27.210 37,310 31.620 36,720 Total Assets