The following trial balance was extracted from the books of Kenneth at 31 December 2017. Trial Balance as at 31 December 2017 RM RM Cash in hand 210 Balance at bank 8,750 Receivable and payable 2,350 2,750 Inventory at 1 January 2017 8,200 Purchases and Purchases Returns 26,100 1,300 Sales Returns and Sales 1,650 38,700 Wages 2,450 Rent and Rates 2,110 Insurance 1,030 Discount received 1,150 Van at cost 2,500 Provision for depreciation of van 1,100 Fixtures and fittings at cost 2,590 Drawings 6,310 Capital at 1 January 2017 19.250 64.250 64.250 The following matters are to be taken in account: (1) Inventory at 31 December 2017 of RM11,500 (2) Rent owing RM250 (3) Rates prepaid RM360 (4) Insurance prepaid RM190 (5) Wages owing RM600 (6) Fixtures are to be depreciated at 10% on cost Required: (a) Statement of Profit or Loss for the year ended 31 December 2017 (b) Statement of Financial Position as at 31 December 2017