The following are the financial statements of Darussunnah Bhd: Darussunnah Bhd Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2017 Turnover Cost of sales Gross profit Administrative expenses Selling and distribution cost Operating profit Finance costs Increase in fair value of investment property Loss on foreign currency translation Investment income Gain on disposal of long-term investment Profit before tax Taxation Profit for the year Other comprehensive income: Surplus on revaluation of land Total comprehensive income Balance as at 1 January 2017 Revaluation surplus Issue of shares Profit for the year Dividend Balance as at 31 December 2017 Darussunnah Bhd Statement of Changes in Equity for the year ended 31 December 2017 Ordinary shares RM 1,039,830,000 116,860,000 1,156,690,000 Retained profit RM 130,780,000 11,880,000 -5,600,000 137,060,000 RM 436,300,000 -275,500,000 160,800,000 -106,680,000 -35.000.000 19,120,000 -2,000,000 710,000 -140,000 640,000 550,000 18,880,000 -7,000,000 11,880,000 3,000,000 14.880.000 Asset Revaluation Reserve RM 420,000 3,000,000 3,420,000 Individual Project 1 FAR270 - Cas x C doc-00-2k-apps-viewer.googleusercontent.com/viewer/secure/pdf/03c7meduvig0d7832hhtb28p9h6frpf8/s7cd6i65j14afs9v64c8plhenloosdn6/1593173175000/drive/100941... Q Type here to search ACFrOgBk44XXQs4Jctsz6LPOMix X + O Non-current assets Property, plant and equipment Investment property Intangibles assets Long term investments 1. Current assets Inventories Accounts receivable Short-term investments Interest receivable Tax recoverable. Cash at bank Total assets Darussunnah Bhd Statement of Financial Position as at 31 December ... 2016 RM 60,000,000 19,290,000 2,100,000 2,000,000 Financed by: Share capital Reserves Non-current liabilities Foreign Loan 5% Debentures Current liabilities Accounts payable Dividend payable Bank overdraft Taxation payable Interest payable Total equity and liabilities Additional information: 6: 3,400,000 16,000,000 3,000,000 220,000 180.000 1,099,910,000 1,213,270,000 1,206,100,000 1,323,370,000 1,520,000 8,650,000 2017 RM 55,260,000 20,000,000 6,300,000 1,600,000 1,039,830,000 1,156,690,000 131,200,000 140.480,000 16,000,000 7,200,000 1,500,000 5,500,000 11,800,000 9,500,000 140,000 200.000 1,206,100,000 1,260,000 5,440,000 14,000,000 3,400,000 1,200,000 600,000 300,000 1,323,370,000 Part of the administrative expenses consisting of the depreciation charge for property, plant and equipment of RM6,000,000 and the amortisation charge for intangible assets of RM800,000. ENG N 8:08 PM 26/6/2020 x : Individual Project 1 FAR270 - Cas x C ACFrOgBk44XXQs4Jctsz6LPOMix X + doc-00-2k-apps-viewer.googleusercontent.com/viewer/secure/pdf/03c7meduvig0d7832hhtb28p9h6frpf8/s7cd6i65j14afs9v64c8plhenloosdn6/1593173175000/drive/100941... Q Type here to search 2. There was a revaluation surplus on the property, plant and equipment upon revaluation on 31 December 2017. Part of the property, plant and equipment were disposed of at cost. 3. 4. 5. 6. 7. 8. a. It is the policy of Darussunnah Bhd to measure its investment property based on fair value model. No new investment property was acquired during the year. b. The foreign loan is a long term loan from Dutch Bank obtained on 31 December 2016 amounted to USD400,000. The spot rate at the date is RM 3.80: USD 1. The company has repaid part of the loan amounted to USD100,000 on 30 June 2017 when the spot rate is RM4.00: USD1. The closing rate on 31 December 2017 is RM4.20: USD1. Details of intangible assets movement during the year were as follows: Balance as at 1 January 2017 Incurred and capitalised during the year Amortisation expense Balance as at 31 December 2017 Required: The carrying value of long-term investment disposed was RM400,000. Short-term investment are to be considered as cash and cash equivalent. Last year's dividend payable were paid together with the current year's interim dividend of RM2,200,000. RM 2,100,000 5,000,000 -800,000 6,300,000 Prepare a Statement of Cash Flow for Darussunnah Bhd for the year ended 31 December 2017 by using the direct method. Prepare statement reconciling the profit before tax to cash flow from operations. (Show all relevant workings) L END OF QUESTION PAPER (Total: 30 marks) ENG N 8:08 PM 26/6/2020 x :