Question $1$ Aroma Trading is a sundry shop business owned by Mr$.$ Amin. The following trial balance for his business as at $31$ December $2022$ was extracted from his books. Aroma Trading Trial Balance as at $31$ December $2022$ Accounts Debit $($RM$)$ Credit $($RM$)$ Inventory on $1$ January $202245,000$ Cash $5,950$ Bank $11,500$ Accounts receivable $26,000$ Allowance for doubtful debts $500$ Accounts payable $22,250$ Capital $70,000$ Motor Vehicle $100,000$ Office Equipment $30,000$ Accumulated Depreciation $$ Motor vehicle $40,000$ Accumulated Depreciation $$ office equipment $7,500$ Sales $330,000$ Return inwards $3,000$ Purchases $240,000$ Return outwards $2,000$ Carriage inwards $3,400$ Carriage outwards $1,500$ Drawings $3,600$ Discount allowed $2,200$ Discount received $4,600$ Utilities expenses $3,800$ Insurance expenses $7,900$ Bad debts expenses $750$ Selling expenses $8,800$ Interest on loan $1,250$ Wages and salaries $27,000$ Rental received $14,000$ Long term loan, $8\%$ p$.$a $30,800$ Total $521,650521,650$ Additional information: $1.$Inventory as at $31$ December $2022$ was RM$38,000.2.$Included in the insurance expense was a general insurance amounting to RM$600$ which was for the next accounting period. $3.$Interest on bank loan for half a year was unpaid. $4.$One of the accounts receivables was declared a bankrupt. The amount owing to Aroma Trading was RM$3,000.5.$Utilities expenses for December $2022$ amounting to RM$1,600$ have not been included in the accounts. $6.$The owner took out cash amounting worth RM$300$ for personal dinner celebration with his family. $7.$Allowance for doubtful debts is to be adjusted to $5\%$ of net account receivables. $8.$Depreciation is to be charged as follow: i$.$Office Equipment $25\%$ on reducing balance method ii$.$Motor Vehicles $20\%$ on straight line method

Note: Show all relevant workings

Required: $($a$)$Prepare the Statement of Profit or Loss and Other Comprehensive Income for the year ended $31$st December $2022.(20$ Marks$)$