Q2 The statement of financial position of Serba Boleh Printing Enterprise as at 31 December 2016 was shown in Figure 1. Distinguish the above information to find financial statement for year 2016 (i) Gross profit or loss Net profit or loss (10 marks) Year 2016 January - December Assumptions: Start Operation 1/1/2016 Cash Injected by owner Loan bank (6% for 6yrs) RM RM 70,000 20,000 Sales Sales (unit) Selling Price/Unit Purchase Costs/unit RM RM 13,000 25 10 RM 60,000 Purchase of Photostat machine (useful life = 8 years) paid cash RM 60,000 in January 2016 Monthly Operating Expenses: (fully paid) Salary Shop space rental Electricity and other utilities Transportation Maintenance Advertisements (for the year) Other 4,000 2,000 500 300 300 3,000 200 Figure 1: Financial statement of Serba Boleh Printing Enterprise for year 2016 -END OF QUESTIONS- 2 CONFIDENTIAL