The following is a list of balances obtained from Sbornjoj Enterprise as at 31 October 2020. Debit (RM) Credit RM) 440,000 220.000 17,050 19,800 4,400 3.000 1,100 33,000 64,620 1.500 40.000 6,000 900 2.700 1,300 1.000 Sales Purchases Return inwards Return outwards Carriage inwards Carriage outwards Import duties on purchase Inventory as at 1 Nov 2019 Capital Sundry expenses Salaries Telephone and electrictity Insurance Motor expenses Stationery Discount allowed Discount received Allowance doubtful debts Interest on loan Interest received Land and building Vehicles Furniture Accounts receivable Bank Drawings Bank loan Accounts payable Cash Accumulated depreciation Vehicle Furniture 600 1,500 2.000 1,400 100,540 60.000 15.000 35,000 75,000 3.000 30,000 45,000 930 20,000 500 623,490 623,490 The following additional information as of 31 October 2020 is available: i) Inventories as at the close of business were volued at RM44.000. ii) Depreciation for the year ended 31 October 2020 has yet to be provided as follows: Vehicles: 15 percent using the straight-line method Furniture: 10 percent using the straight line method. im Interest on loan and interest received ore accrued by RM200 and RM100 respectively. The insurance expenses amounting to RM450 was for the period of 1 March 2020 to 23 February 2021. iv) The owner has taken goods worth RM2,000 for her own use and no record was made in her accounts. Required: a) Prepare statement of profit and loss for the year ended 31 October 2020. (10 marks) b) Prepare statement of financial position as at 31 October 2020. (10 marks)