STSA is a business located in Kota Samarahan since 2017. The following trial balance was extracted from the business books on 30 June 2020. Debit (RM) 57341 Credit (RM) 80340 4173 10650 6000 242 15000 410 715 1150 Purchases Sales Inventories at 1 July 2019 Wages 3 Years Loan Cash in hand Premises Discounts Cash in bank Drawings Repairs to premises Carriage inwards Carriage outwards Motor vehicle at cost depreciation on Electricity Trade receivables and payables Equipment Provision for doubtful debts Motor van expenses Returns Rental Insurance Interest on loan Capital 7326 720 246 584 7600 vehicle 900 630 2720 4100 1635 180 311 1370 289 1200 480 150 23000 115231 115231 Additional information: i. ii. Closing inventories were valued at RM4620 The insurance expense is for a 12 months' fire insurance policy which was purchased on 1 August 2019 by cash. Annual depreciation expenses for the fixed assets are as follows: a. Motor vehicles - 10% at reducing balance b. Equipment - 10% at cost iii. iv. V. vi. vii. viii. A customer, APR whose account has been written off as bad debts in 2018 has just repaid her debt, RM450 in cash. RM300 of the rental expenses was rent for the next accounting period. The owner still owes TRB Sdn. Bhd. RM120 for the carriage service of inventories from port to business premise. RM80 of the trade receivables have to be written as bad. The owner took goods worth RM130 for private use which has not been accounted for in the books. The provision for doubtful debts is estimated to be at 5% of the outstanding trade receivables. The loan had been obtained on 1 July 2019 with an interest rate of 12% per annum. ix. Required: a. Prepare the Statement of Comprehensive Income or Statement of Profit and Loss for the year ended 30 June 2020. (20 Marks) b. Prepare the Statement of Financial Position or Balance Sheet as at 30 June 2020. (20 Marks)