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Question 3 The following trial balance extracted from the books of Successful Trading (a sole proprietorship) as at 31 December 2022 : The following information is relevant for the financial year: (i) Inventory at 31 December 2022 is valued at RM20,200. (ii) Office expenses include RM2,300 for rent for insurance premium covered the period of year 2022 . (iii) Vehicle and travel expenses of RM3,500 were unpaid at 31 December 2022. (iv) Depreciation is to be provided on the following bases: Motor vehicles 20% per annum, straight line. Required: (a) Prepare the Statement of Income for the year ended 31 December 2022. (15 marks) (b) Prepare the Statement of Financial Position as at 31 December 2022. (15 marks) (c) Calculate the following ratios based on financial statements above. i. Current ratio ii. Quick ratio iii. Stock holding period iv. Receivables collection period (12 marks) (Total 42 marks)