The following trial balance has been extracted from the books of Silver Sky Enterprise for the year ended 31 December 20

[answerhappygod]

The following trial balance has been extracted from the books of
Silver Sky Enterprise for the year ended 31 December 2021. Silver
Sky Enterprise Trial Balance as at 31 December 2021 DR (RM) CR (RM)
Inventory as at 1 December 2021 25,187 Drawing 18,500 Account
receivable and account payable 22,776 10,238 Rent 12,800
Advertising and promotion 1,750 Insurance premiums 1,900 Purchases
and sales 99,817 182,208 Loan from CIMD Bank (15%) 50,000 Repair
and maintenance 1,799 Utility 2,575 wages and salaries 45,012 Loan
interest 3,750 Allowance for doubtful debt 500 Heating and lighting
7,500 Plant and machinery 63,260 Accumulated depreciation 18,925
Office expenses 5,817 Capital 53,000 Motor vehicle 21,557
Accumulated depreciation 11,317 Bank overdraft 7,812 334,000
334,000 Additional information to be taken into account: i.
Inventory as at 31 December 2021 was valued at RM27,515. ii. Loan
interest for 6 months ended 31 December 2021 is outstanding. iii.
Rent paid in advance at 31 December 2021 amounted to RM870. iv.
Depreciation of machinery was to be provided for at 10% of cost and
a motor vehicle at 20% of their carrying value. v. Accrued
advertising cost RM250 and wages and salaries of RM415 were to be
allowed for. Required to prepare: (a) Statement of Profit or Loss
for the year ended 31 December 2021. (15 marks) (b) Statement of
Financial Position as at 31 December 2021