The Shire Sports Club provided the following information: 1 April 2020 31 March 2021 ? 50,000 13,350 160,000 205 160,000 Bicy de Equipment: Cost Accumulated Depreciation Land and buildings Other payables-Light and heat Other receivables -General expenses Rental income in arrears Subscriptions in advance Other receivables 100 700 440 750 455 4,490 Receipts and Payments Account (summary) RM 8,500 2,500 16,500 18,686 Receipts: Rental income Sale of bicy de equipment Subscriptions Tournament fees Payments: General expenses Light and heat Toumament advertising Toumament prizes Additional information 14,590 2,520 2,000 4,000 1. During the year, the club disposed of bicyde equipment, cost RM3,000, carrying value RM1,500. 2. Bicyde equipment is depreciated at 10%per annm using the reducing balance method 3. A full's year depreciation is charged in the year of purchase and none in the year of disposal. 4. Land and buildings are not depreciated. Required: Prepare the following: a) Income and Expenditure of The Shire Sports Club for the year ended 31 March 2021. b) Statement of Financial Position of The Shire Sports Club as at 31 March 2021