11 The following abridged financial statements relate to Beta and Alpha: Statement of Profit or Loss for the year ended 31 December 2020. Beta Alpha RM'000 RM'000 Revenue 21,285 18,000 Cost of sales (16.950) (14.450) Gross Profit 4,335 3,550 Operating expenses (3.310) (2,730) Operating Profit 1,025 820 Income from investments 200 100 Net Profit before tax 1,225 920 Taxation (573) (422) Retained profits for the year 652 498 Statement of Financial Position as at 31 December 2020. Beta Alpha Non Current Assets Current Assets Total assets RM'000 RM'000 4,099 3,590 5,530 4,350 9,629 7,940 Equity and Liabilities: Share capital 3,400 1,750 Retained profits 3,552 2,725 Trade and other payables 2,677 3,465 Total equity and liabilities 9,629 7,940 Additional information: (i) (ii) On 1 January 2020, Beta acquired all the shares of Alpha for RM4.5 million by issuing RMI shares each. Beta had not recorded this acquisition. On 1 January 2020, the fair values of the non current assets of Alpha was RM200,000 more than the carrying amounts. Required: (Show all workings) Prepare consolidated Statement of Profit or Loss for the year ended 31 December 2020 and Statement of Financial Position as at 31 December 2020 in accordance with MFRS3 and MFRS10. Page 8 of 8