1 Antartic Plc is a merchandising company that prepares its financial statements on 31 December, 2016. The company's statement of profit or loss and other comprehensive income and statement of financial position are shown below. Antartic Plc Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2016 RM'000 5,440 Revenue Cost of goods sold Gross profits (2,000) 3,440 Depreciation expense (100) Other operating expenses (1,100) Gain on sale of land 50 Loss on sale of equipment (20) Profit before tax 2,260