Question 1 The following trial balance was extracted from the books of Kenneth at 31 December 2017. Trial Balance as at 31 December 2017 RM 2,750 RM 210 8,750 2,350 8,200 26,100 1,650 2,450 2,110 1,030 Cash in hand Balance at bank Receivable and payable Inventory at 1 January 2017 Purchases and Purchases Returns Sales Returns and Sales Wages Rent and Rates Insurance Discount received Van at cost Provision for depreciation of van Fixtures and fittings at cost Drawings Capital at 1 January 2017 1,300 38,700 1,150 2,500 1,100 2,590 6,310 19.250 64,250 64,250 The following matters are to be taken in account: (1) Inventory at 31 December 2017 of RM11,500 (2) Rent owing RM250 (3) Rates prepaid RM360 (4) Insurance prepaid RM190 (5) Wages owing RM600 (6) Fixtures are to be depreciated at 10% on cost Required : (b) Statement of Financial Position as at 31 December 2017