8. The company issued the 5% Redeemable Preference Shares (RPS) in 2015 and the company has an obligation to redeem the shares in 10 years. As the company has an obligation to redeem in future, the shares meet the definition of liability. The 5% dividend is paid in arrears semi-annually. Trial balance 5% Redeemable preference shares is RM30,000 prepare statement for year ended 31 december 2020