Question 1 Abu Enterprise is solely owned by Abu Bakar, a sole trader of household knickknacks. The following are balances of Abu Enterprise as at 31 March 2019: - Dr (RM) Cr (RM) 150,000 Sales 95,000 3,000 22,000 12,000 1,200 970 1,230 1,250 Purchases Inventory at 1 April 2018 Salaries Rent Discounts Electricity and water Bad debts written off Provision for bad debts 1 April 2018 Cash at bank Cash in hand Capital account 1 April 2018 Drawings Computer Trade receivables Trade payables 300 25,550 500 20,000 1,500 13,000 4,500 8,900 180,450 180,450 Additional information: (1) Rent owing at 31 March 2019 RM80. (2) Salaries paid in advance at 31 March 2019 RM150. (3) Decrease in provision for bad debts RM50. (4) Depreciation on computer is RM2,600. (5) Inventory at the close of business has been valued at RM3,510. Required: (a) Prepare the Statement of Profit or Loss for the year ended 31 March 2019. (12 marks) (b) Prepare the Statement of Financial Position as at 31 March 2019. (13 marks) [Total: 25 Marks]