QUESTION 9. Thank you in advance!!

The following trial balance was extracted from the books of Mawar Biru Sdn. Bhd. as at Question 9 31 December 20x8. Debitge Credit ise (RM)bisdens (RM) 350,000 565,000 Purchases and sales 5,000 3,300 Returns inwards and returns outwards 14,500 Transportation expenses 45,000 68,000 Accounts receivable and accounts payable Debit Credit (RM) (RM) Fixtures and fittings 51,000 Land and building 500,000 300,000 Motor vehicles Account depreciation as at 1 January 20x8: Fixtures and fittings 21,300 108,000 Motor vehicles 460,000 10% Loan from Hong Leong Bank 4,400 Duty on purchases 3,000 Utilities 15,600 Insurance 48,000 Salary and wages 22,000 10% Fixed deposit 5,200 Bad debts 8,400 General expenses 14,800 Cash 84,500 Bank 112,000 Inventory as at 1 January 20x8 12,400 7,000 Commissions 6,300 5,000 Discount allowed and discount received 2,400 Interest on loan 8,000 Drawings 4,500 Allowance fordoubtful debts 3,000 Allowance for discount allowable 400,000 Capital 1,628,800 1,628,800 Additional information 1 Inventory as at 31 December 20x8 was RM60,000. 2 The owner withdrew goods worth RM3,000 and cash RM2,000 for her personal use 3 The following expenses are still outstanding as at 31 December 20x8: General expenses RM1,200 Utilities RM500 4 Included in transportation expenses is carriage inwards amounting to RM2,500. 5 One of the staff was given an advance salary of RM1,000 and no record has been made in 6 One of the debtors owing an amount of RM1,120 was declared bankrupt and the amount has to be written off as a bad debt 7 Depreciation for the year are to be provided as follows account Fixtures and fittings 10% on cost Motor vehicles 20% on net book value 8 Afixed deposit was placed on 1 July 20x8. The half-year interest received was not yet recorded in the book of accounts. Allowance for doubtful debts is estimated at 5% of the total outstanding of accounts receivable. Allowance 9 for discount allowable is to be increased to RM4,000 at the end of 20x8. 10 During the year, the owner contributed additional RM20,000 cash Required: (a) Prepare the Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 20x8 (b) Prepare the Statement of Financial Position as at 31 December 20x8