The followings adjustments have yet to be accounted for: Details of Wang, El', Corporation's two lines of inventory at 31 December 2010 is as follows: Item of invento MANIK LILY RM MANIK DAISY RM Total costs Im_ F6 000 iv. vi. Megggg gm Corporation paid its annual insurance premium of RM 10,000 for the period of 151 June 2010 to 31 May 2020. This payment is included in administrative expenses. The corporation's depreciation policy is as follows: -building to be depreciated by using straight line method over 50 years -plant and equipment to be depreciated at 10% straight line method The cost of land is RM 200,000 and all non-current assets are assumed to have zero residual value. There were no additions to or disposals of nonacurrent assets during the year ended 31 December 2010. Depreciation on building is charged to administrative expenses, and depreciation on plant and equipment is charged to cost of sales. The land had been revalued to RM 350,000 due to rapid development activities in the surrounding area. At year end, trade receivables included a balance of RM 4,000 which is considered irrecoverabte. The allowance for receivables required adjusting to 5% of the remaining receivables. The corporation has decided to present irrecoverable debts as other operating expenses on the face of financial statements. The bank loan was received on 1 April 2010 and is repayable in full in five years. Interest is charged at a fixed rate of 0% per annum. Income tax for the year ended 31 December 2010 is estimated at RM 10.000. Menang Besar Corporations is buys and sells two goods, namely MANIK LILY and MANIK DAISY. The following trial balance was extracted from the nominal ledger of Menang Besar Corporations on 31 December 2019. TRIAL BALANCE OF MENANG BESAR CORPORATION AS AT 31 DECEMBER 2019 RM RM Sales 1,150,000 Inventories, 1 Jan 2015 75,000 Purchases 465,000 Distribution costs 238,000 Administrative expenses 358,000 Loan interest paid 8,000 Land and building at cost 600,000 Plant and equipment at cost 340,000 Land and building, accumulated depreciation at 1 96,000 Jan 2019 Plant and equipment, accumulated depreciation at 63,000 1 Jan 2019 Investment in bonds 40,000 Trade receivables 60000 Allowance for receivables 5,000 Bank 24,000 Ordinary share capital (RM 1 per share) 440,000 Share premium 100,000 Bank loan 200,000 Retained earnings 61,000 Ordinary dividend paid 15,000 Accounts payable 60,000 2,199,000 2,199,000vii. The bank reconciliation performed at 31 December 2019 revealed that Menang Besar Corporation had accounted for a cheque for RM 4,500 sent to a credit supplier as RM 5,400. Instruction: You are required to prepare the following for Menang Besar Corporation : INDIVIDUAL ASSIGNMENT ACT 3112 INTRODUCTORY ACCOUNTING TRIMESTER 1, 2020/2021 a. Relevant adjusting entries as at 31 December 2019. b. Adjusted trial balance as at 31 December 2019. c. Statement of Profit or Loss and Other Comprehensive Income for the period ending 31 December 2019. d. Statement of Financial Position as at the date. e. Statement of Changes in Equity as at the date. Note- You are required to use Microsoft Excel in generating the required statements, and show all the relevant formula and calculation