hi all, please help me with this question and please give me the right way to answer these! tq and have a nice day..

QUESTION

The following is the trial balance of Jack as at 31^st December 2021

	Dr	Cr
	RM	RM
Wages and Salaries	80,000
Sundry Expenses	20,000
Sales		400,000
Returns Outwards		30,000
Rental	90,000
Purchases	150,000
Provision for doubtful debts		6,000
Motor vehicles	200,000
Inventories 1 January 2021	50,000
Insurance	20,000
Fixtures	60,000
Drawings	10,000
Communication expenses	20,000
Commissions paid	50,000
Cash at bank and cash in hand	80,000
Carriage Outwards	6,000
Carriage Inwards	7,000
Capital		347,000
Accumulated depreciation motor vehicle		40,000
Accumulated depreciation fixtures		10,000
Accounts Payables		80,000
Account Receivables	70,000
	913,000	913,000

Notes to the accounts:

1. Inventory at year end was RM 50,000.

2. The provision for doubtful debts as of 31^st December 2021 was RM10,000.

3. Depreciation on Motor Vehicles was 10% per annum on the straight-line method.

4. Depreciation on Fixtures was 10% per annum on the reducing balance method.

5. Wages were owing at the end of the period by RM2,000.

6. Sundry Expenses were prepaid by RM5,000.

Required:

Prepare Jack statement of profit or loss for the year ending 31 December 2021 and a statement of financial position as at that date.