1. The owner of Warna Trading, a proprietorship business, Puan Alia, and her friend Encik Irfan formed a company named Putih Sdn. Bhd. and issued to themselves 5,000 ordinary shares each at par value RM1 for cash. The purpose of forming Putih Sdn. Bhd. is to buy over the business of Warna Trading on 1 January 2021. Putih Sdn. Bhd. issued to Puan Alia 750,000 ordinary shares at a premium of 10% to satify the purchase of Warna Trading Putih Sdn. Bhd. paid the liquidation expenses of Warna Trading which amounted to RM15,000. The formation expenses of Putih Sdn. Bhd. were RM2,500. The financial position of Warna Trading on 1 January 2021 was as follows: RM RM Capital - Puan Alia 600,000 Current liabilities Trade payables 40,000 640,000 Non-current assets Office equipment (cost) 600,000 Accumulated depreciation (200,000) 400,000 Furniture and fittings (cost) 130,000 Accumulated depreciation (30,000) 100,000 500,000 Current assets Inventories 60,000 Trade receivables 50,000 Bank 30,000 140,000 640,000 The fair value of the assets of Warna Trading as at 1 January 2021 was as follows: RM Office equipment 500,000 Furniture and fittings 60,000 Inventories 70,000 Trade receivables 45,000 You are required to determine the goodwill and prepare the statement of financial position of Putih Sdn. Bhd. immediately after it had acquired Warna Trading