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Question 3 (34 marks) Keepfit Bhd which operates a chain of fitness centres began operations on 1 November 2022. During the month of November, the business provided fitness and wellness services for customers. At the end of the month, the investors would like to know how well Keepfit Bhd had performed during its first month of business operation. The investors also want to know the company's financial position at the end of November and its cash flows during the month. The limited information from Keepfit are given below, Balances as at November 30, 2021 Account payables Account receivables Supplies Salary expense Share capital RM'000 5,000 Fitness Equipment 3,600 Service revenue 2,333 Rent expense 500 Utilities expense 30,000 RM'000 4,000 15,000 780 900 Cash transactions for the month of November. 2021 Cash receipts RM'000 Payment of cash: Purchase of Fitness Issuance of shares to shareholders 30,000 Equipment Sale of Fitness Equipment 1,000. Dividends RM'000 5,000 200 RM"000 Additional information Adjustments to reconcile net profit to net cash provided by operating activities -933 Cash balance at beginning of November, 2021 Retained earnings at beginning of November, 2021 oo Required Prepare the Statement of Profit or Loss, the Statement of Changes in Equity and the Statement of Cash Flows for the month ended November 30 and Statement of Financial Position as at November 30, 2021. (24 marks) b Comment on the financial performance of Keepfit Bhd during its first month of operations (5 marks) C. Comment of the financial position of Keepfit Bhd at the end of November, 2021 (5 marks) INT

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