PRACTICAL EXERCISE QUESTION 2 (CLO2, P2, CLS 3a) Based on the Trial Balance as at 31 December 2021, the following a information need to be adjusted: a) Stock at 31 December 2021 is valued at RM 78,000 at cost price and RM 75,000 at marketprice b) Accrued rental is RM 3000 c) Prepaid Insurance worth RM 200 d) Bad debts are recognized to be RM4,000. Provision for doubtful debts should be adjusted to 3% of the debtor. e) All the non-current assets are to be depreciated 10% yearly using the diminishing balance method Based on the information given: You are required to make the necessary adjustment and prepare a Statement of Comprehensive Income for the month ended 31 December 2021 and a Statement of Financial Position as at 31 December 2021. (25 Marks) 3/5