3. The following is the Financial Statement of HAS Bhd HAS Bhd Statement of Financial Position as at 31 December 2019 Non-Current Assets 100,000 Current Assets (excluding bank) 50,000 Bank 80,000 230,000 RM 500,000 100,000 Authorised Share Capital 500,000 Ordinary Shares of RM1 each 100,000 9% Redeemable Preference Shures of RM1 cach Issued and fully Paid-up Share Capital 100,000 Ordinary Shares of RM1 cach 50,000 9 Redeemable Preference Shares of RM1 cach Retained Earnings Share Premium 100,000 50.000 70,000 10,000 230,000 Page 2 of 3 FA4/MIDTERM/2101 Additional information: i. The company directors resolved to redeem all the Redeemable Preference Shares at a premium of 5%. ii. A fresh issue of 50,000 Ordinary Shares of RMI each at par were issued for the purpose of redeeming the Preference Shares. All the new shares were fully paid up. Required: Prepare the journal entries to record the above transactions Prepare Statement of Financial Position immediately after the redemption (10) b. (10) Total-20)