The Trial Balance of Fajar Sdn Bhd at 31 December 2020 is as follows:

	Dr(RM)		Cr(RM)
Sales			75,000
Commission received			2,700
Wages	8,000
Account receivable	6,300
Building	60,000
Bank			3,450
Fixtures and fittings	9,000
Rent received			500
Office equipment	11,350
Return inwards	400
Purchases	40,000
Return outwards			300
Community chest donation	600
Drawing	700
Account payable			3,200
Repairs and maintenance	900
Import duty	400
Carriage inwards	300
Loan			20,000
Interest received			2,000
Interest on loan	1,200
Opening stock	4,000
Capital			36,000
	143,150		143,150

Additional information:

1. Closing stock at 31 December 2020 is RM5,000.
2. There are accrued wages of RM500.
3. Provision for doubtful debt is RM200.
4. Depreciate fixtures and fittings at 10% per annum and office equipment at 15% per annum on cost using straight line method.
5. Repairs and maintenance have been prepaid by RM50.

Required:

a) Prepare an income statement for the year ended 31 December 2020.

(20 marks)

b) Prepare statement of financial position as at 31 December 2020.

(20 marks)