1 Exercise L.4- Question The balances listed below were extracted from the records of Sofa Bhd on 30 June 2018: Revenue Purchases RM 530,650 298,400 Returns (inwards) 1,880 Delivery vehicles (carrying amount) 19,230 Factory plant and equipment (carrying amount) 24,000 Land and buildings (carrying amount) 350,000 Factory overheads 66,420 Administrative expenses 18,710 Rent received Investments Investment income Inventory at 1 July 2017 Trade receivables Trade payables Distribution costs Cash in hand Bank overdraft 12,000 30,000 1,500 24,680 15,690 34.700 44.280 410 4.820 Ordinary shares (RM1 each) 150,000 Retained earnings at 1 July 2017 160,030 The following transactions and events occurred on 30 June 2018, after the above balances had been extracted: Sofa received RM460 from a customer. (1) (2) (3) (4) (5) (6) rates: Inventory was valued at RM29,170 at the close of business. Sofa received an electricity bill for RM1,240 relating to the factory for the three months to 30 June 2018. The bill was paid in July 2018. Sofa paid RM690 to a supplier in full settlement of an invoice for RM700. The company's land and buildings were valued by a chartered surveyor at RM390,000 and the new value is to be included in the statement of financial position. Depreciation was provided on the reducing balance basis at the following annual (7) (8) Delivery vehicles Factory plant and equipment 20% 10% Bonus shares were issued on the basis of one for every two held on 29 June 2018. Income tax for the financial year ended 30 June 2018 was estimated at RM38,100. Required: Prepare for Sofa for the year ended 30 June 2018, in accordance with IAS I Presentation of Financial Statements: a) Statement of total comprehensive income b) Statement of changes in equity c) Statement of financial position