Question 2 Ananda wants to prepare financial statements for his business. Use the trial balance below b help Archa to prepare the statement of profit loss for the year ended 31 March 2021, and a statement of financial position as at 31 March 2021. Trial balance as at 31 March 2021 Det (M) TRN Office Equiment al cost 30010 Accumulated depreciation: Office 300 equipment Delivery vala at cost 50,000 Accummilated depreciation: 19200 Delivery van Machinery at cost 48.000 Drawings 15,700 Capital 100,000 Loan 30.000 Inventories as at 1 April 2012 19,200 Purchases 83.900 Return Outivards 1.900 Sales 157.500 Retum Innards 2.700 Salaries 21,000 Discount Allowed 500 Discoumt Received 1.500 Rent Received 1.500 Insurance premium paid 1.200 Water and electricity 6,400 Bad debts 1,500 Trade receivables 35,600 Trade payables 32.320 Allowance or doubtru debts 2,000 Bank Cash 355,500 Additional infomation Inventories 28 at 31 March 2021 were valued at cost RM17.700 2. Allowance for doubtful debts is 5% of trade receivables 3. Depreciation policy for the following assets: Otice equipment: 20% on cost, Delivery var: 15% reducing balance method Machinery 25% on cost Required (13 mark) Prepare the statement of profit or loss for the year ended 31 March 2011 (12 marks 16 Prepare the statement of financial position 25 at 31 March 2021