Prepare a balance sheet and income statement for Kiran Corp as at the end of 31st December 2020 from the following information.
	RM
Inventories	2,000,000
Accounts payable	1,400,000
Cash	200,000
Common stock	3,000,000
Depreciation	250,000
Net fixed assets	6,000,000
Sales	1,800,000
Retained earnings	664,000
Interest expenses	70,000
Accounts receivable	864,000
Salary and wages expenses	550,000
Notes payable	1,600,000
Cost of goods sold	500,000
Long-term debt	2,400,000
General and administrative expenses	250,000
Taxes	35%