The following is the Trial Balance of Shina Enterprise as at 31 December 2020 Shina Enterprise Trial Balance as at 31 December 2020 Debit Credit (RM) (RM Capital 204,300 Land & Building 199,820 Plant & Machinery 65,000 Furniture and Fitting 30,000 Motor vehicle 89,000 7% Loan from Kuwait Finance 70,000 Purchases 35,000 Sales 380,000 Inventory as at 1 January 2020 34,000 Return inward 3,500 Return Outward 5,000 Carriage inward Carriage outward Discount allowed 2,500 1,500 500 Discount Received 1,700 8% Fixed Deposit 50,000 Cash 32,000 Bank 105,800 Commission received 1,450 Rent received 2,000 Account Receivable 19,000 Account Payable 10,000 Salaries and wages 20,000 Electricity & water Rental expenses Allowance for Doubtful Debts Interest on Fixed Deposit Drawing 10,000 10,000 270 4,000 700 Accumulated Depreciation as at 1 January 2020 on: Plant & Machinery Furniture & Fitting Motor vehicles 6,500 5,700 17,800 708,320 708,320 Additional information: i. The closing inventories as at 31 December 2020 was RM19,000 ii. The following adjustments are to be made at year end: Accruals (RM) Prepayment (RM) Rental expenses Electricity & water 2000 200 Salary Rent Received 800 600 iii. The loan from Kuwait Finance was taken by Shina Enterprise on 1 October 2020 and the part of the interest on the loan was due and not yet been paid. Depreciation for the year were to be provided as follows iv. Furniture and Machinery Plant and Machinery Motor Vehicles V. 10% per annum on carrying value 10% per annum on cost 10% per annum on cost Samad the owner withdrew merchandise valued at RM400 for his own use. The transaction was not recorded in the account. Required: Prepare a Statement of Profit or Loss for the year ended 31 December 2020. (15 marks) Prepare a Statement of Financial Position as at 31 December 2020. (10 marks)