using a format

The following trial balance was extracted from the book of Waheda & Co a sole trader, at the close of business on 31 October 2019, RM 4,110,000 530,000 RM 2,070,000 290,000 5,200,000 2,760,000 1,090,000 380,000 17.630,000 360,000 Debtors & Creditors Discounts Capital as at 1 November 2018 Drawings Bank Overdraft Bills receivable & payable Purchases & sales Sales & purchases returns Wages & salaries Office fumiture Delivery van Van running expenses Rent & rates Cash Stock as at 1 November 2018 Bad debts written off Sundry expenses Provision for bad & doubtful debts 550,000 9,840,000 720,000 3,250,000 800,000 960,000 420,000 710,000 90,000 1,970,000 270,000 260,000 220,000 27 240.000 27.240,000 Additional information at 31st October 2019: 1) Stock as at 31 October 2019 - RM3,040,000. ii) The company decided to increase its provision for the year to RM260,000 in total. iii) RM70,000 wages remained outstanding on 31st October 2019 PNB20604 FINANCIAL & COST ACCOUNTING iv) RM60,000 rates were paid in advance on 31 October 2019, V) Provision for depreciation Office furniture - 20% on cost Delivery van - 30% on (net) book value (a) Prepare the income Statement for the year ended 31 October 2019. (20 marks) (b) Prepare Statement of Financial Position as at 31 October 2019 (20 marks)