PRO IRFAN, a professional golfplayer, started to operateGREEN GOLF PRO SHOPPE in January 2019. He brought in his own vehicle worth RM180,000 for the business use and cash of RM50,000.The following transactions were completed in the very first month of operation:

January1	Paid RM3,000 for three months rental starting from January 2019. Received ordered furniture for merchandise display and paid RM12,000 for the whole amount.
2	Purchased golf set and golf balls as merchandise inventory fromTIGER SUPPLIER for RM5,700, FOB shipping point, terms 2/15,n/30.
5	Paid freight on purchases from TIGER SUPPLIER for RM100.
7	Purchasedgolf attires as merchandise inventory from WOOD SPORTSWEAR for RM3,500. FOB destination, terms 3/10,n/eom.
8	Cash sales RM1,900. The cost of the merchandise sold was RM855.
9	Returned 3 pairs of golf shoes to WOOD SPORTSWEAR costing RM300.
10	Sold merchandise totalled RM4,600 to UUMGOLF CLUB. Terms 5/10, n/30. The cost of the merchandise was RM1,840.
11	Paid TIGER SUPPLIER the full amount for purchases made on 2 January. PRO IRFANtook a golfiron costing RM250 as a present for his son.
15	Obtained a loan from BIMB BANK BERHAD for RM25,000 cash payable in 2 years.
17	Sold merchandise costing RM2,200 to MRE EVENT MANAGEMENT for RM5,500. Terms 5/10, n/30.
20	Paid WOOD SPORTSWEAR in full. Received payment from UUMGOLF CLUB in full.
22	Sold merchandise to LITTLE PRO CLUB for RM2,010 and received cash. The cost of the merchandise was RM900.
25	Purchased golf sets from TIGER SUPPLIER for RM3,900, FOB shipping point, terms 2/10,n/30. Paid freight charges of RM70.
27	Paid RM300 to LITTLE PRO CLUB for merchandise returned that costs RM130.
30	Paid utility bills totalled RM510 and RM4,200 salary to employees.
31	Purchased a one-year insurance policy starting from February 2019 for RM4,200.

At the end of the month, the following adjustments need to be made:

1. Rental expenses for the month;
2. Vehicles are to be depreciated at the rate of 10% per annum;
3. Furniture are to be depreciated at the rate of 5% per annum; and
4. A total of RM370 salary remained payable at the end of the month.

YOU ARE REQUIRED TO:

1. Prepare the Statement of Profit or Loss and Other Comprehensive Income for the month.

The chart of accounts for the shop includes the following:

No.	Account Description	No.	Account Description
101	Cash	301	Capital
112	Accounts Receivable	310	Drawings
128	Merchandise Inventory	400	Sales Revenue
130	Prepaid Insurance	501	Sales Returns & Allowances
132	Prepaid Rent	505	Cost of Goods Sold
155	Furniture	507	Sales Discounts
156	Accumulated Depn Furniture	711	Depreciation Expense Furniture
157	Vehicles	712	Depreciation Expense - Vehicles
158	Accumulated Depn - Vehicles	722	Insurance Expense
201	Accounts Payable	725	Salaries Expense
212	Salary Payable	727	Utility Expense
290	Bank Loan	730	Rent Expenses