Question 4 The Trial Balance of Sunbright Enterprise, a sole proprietorship on 31 December 2021 is as follows: Trial Balance as at 31 December 2021 Debit Credit RM RM Sales and purchases 486,000 780,000 Return inwards 2,780 Return outwards 3,200 Inventory as at 1 January 2021 23,500 Salaries 43,800 Telephone expenses 2,700 Equipment at cost 65,000 Accumulated depreciation-equipment 9,750 Motor vehicles at cost 120,000 Trade receivables 43,200 Capital Rental Trade payables Bad debts Carriage inwards Import duties Discounts Cash in hand Bank Drawings 28,000 41,180 870 3201 1,020 570 630 150,000 54,200 110,000 2,800 984,760 984,760 You are given the following additional information: 1. Inventory in hand on 31 December 2021 was RM25,000. 2. The salaries amounted to RM5,000 are still unpaid. 3. The rental deposit of the new branch for January and February next year amounted to RM20,000 has been paid in advance. 4. The depreciation for motor vehicles is calculated based on 20% using the straight-line method while the equipment is depreciated based on 15% using the reducing balance method. (Note: For the depreciation, please round up your answer to the nearest integer number). 7 Introduction to Accounting (10) Examination January 2022 Required: CONFIDENTIAL a) Prepare the Statement of Comprehensive Income (Income Statement) for Sunbright Enterprise for the year ended 31 December 2020. (20 marks) b) Draw up the Statement of Financial Position (Balance Sheet) as at 31 December 2020 for Sunbright Enterprise. (17 marks)