Trial Balance as at 31 August 2021 Credit RM000 Debit RM000 299 41 1,180 14 6.566 631 85 21 10.811 74 50 96 163 311 28 1,648 Distribution costs Marketing expense Staff salaries Discounts Purchases and sales Staff benefits Retums Allowance for doubtful debts at 1 September 2020 Insurance Inventory at 1 September 2020 Bank Loan note interest Retained eamings at 1 September 2020 Cash Trade receivables and payables 5% Long-term loan Bad debts Ordinary shares Final dividends paid Rental expense Plant and machinery at cost Motor vehicles at cost Office equipment at cost Accumulated depreciation at 1 September 2020: Plant and machinery Motor vehicles Office equipment 72 494 257 400 64 500 106 234 3.107 480 2.314 1,853 140 531 16,285 16,285 Additional information: 1. Closing inventory had a cost of RMI 12,400 and net realisable value of RM153,000. 2. The rental expense includes rental paid for 13 months until end of September 2021. 3. Insurance accrued was RM40,000. 4. Included in distribution costs was an import duty of RM15,000 related to purchase of a commercial truck. 5. The allowance for doubtful debts should be maintained at 8% of the trade receivables. 6. Full-year depreciation is to be charged and allocated as follows: Plant and machinery 15% on net book value Cost of sales Motor vehicles 20% on cost Distribution cost Office equipment 10% on cost Administrative expense Page 1 of 5 7. costs The items below should be apportioned as indicated: Cost of Distribution Sales Rental expense 25% Insurance 20% Marketing expense Staff salaries and benefits 30% Administrative expenses 75% 80% TOP 60% 10% Current tax of RM105,000 is to be provided for the year. Required: For Payah's external use, a) Prepare a statement of profit or loss for the year ended 31 August 2021, showing clearly your workings for cost of sales, distribution costs and administrative expenses. (15 marks) Prepare a statement of financial position as at 31 August 2021. (10 marks)