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Questions The following trial balance was taken from the books of Dumbo Trading at 31 December 2021. Capital Drawings Cash and bank Dumbo Trading Trial Balance as at 31 December 2021 Sales Purchases Accounts receivable Accounts payable Inventory Carriage outwards Carriage inwards Returns inwards Returns outwards Salaries and wages Sundry expenses Rent (10 months) Motor vehicle expenses Accumulated depreciation-Fixtures and fig Accumulated depreciation-Motor vehicle Futures and fittings Motor vehicle Total 227,836 30,380 760,760 162.400 65,870 7,805 5,880 34,300 292,600 2.230 47,600 6.380 BM 131,789 1,472,940 98,700 26,040 1,596 20.160 6.384 100,800 1.751.225 1.751.225 Additional information: Inventory as at 31 December 2021 amounted to RM79,030 . Dumbo Trading is still owing rent expense for November to December 2021 which has not been amended in the book The depreciation for future and fittings is charged at 25% per annum calculated at monthly basis using the straight line depreciation method The depreciation for motor vehicle is charged at 20% per annum calculated at monthly basis using the reducing balance method Out of RM3,000 salary and wages, RM500 should be sundry expenses and RM2,500 should be motor vehicle expenses respectively. These have yet to be adjusted Required a) Prepare the Statement of Comprehensive Income for the year ended 31 December 2021. (22 marks) b) Prepare the Statement of Financial Position as at 31 December 2021. (18 marks) Question 5 The following trial balance was taken from the books of Dumbo Trading at 31 December 2021. Capital Drawings Cash and bank Sales Purchases Accounts receivable Accounts payable Inventory Carriage outwards Carriage inwards Returns inwards Returns outwards Salaries and wages Dumbo Trading Trial Balance as at 31 December 2021 Sundry expenses Rent (10 months) Motor vehicle expenses Accumulated depreciation-Fixtures and fittings Accumulated depreciation-Motor vehicle Fixtures and fittings Motor vehicle Total RM 227,836 30,380 760,760 162,400 65,870 7,805 5,880 34,300 292,600 2,230 47,600 6,380 RM 131,789 1,472,940 98,700 26,040 1,596 20,160 6,384 100,800 1.751.225 1.751.225 ,5/- Additional information: Inventory as at 31 December 2021 amounted to RM79,030. Dumbo Trading is still owing rent expense for November to December 2021 which has not been amended in the book. The depreciation for fixture and fittings is charged at 25% per annum calculated at monthly basis using the straight-line depreciation method. The depreciation for motor vehicle is charged at 20% per annum calculated at monthly basis using the reducing balance method. Out of RM3,000 salary and wages, RM500 should be sundry expenses and RM2,500 should be motor vehicle expenses respectively. These have yet to be adjusted. Required: a) Prepare the Statement of Comprehensive Income for the year ended 31 December 2021. (22 marks) b) Prepare the Statement of Financial Position as at 31 December 2021. (18 marks)