ABC company wholesales and distributes fashionable clothes, and provides distribution services to other companies. The following balances have been extracted from ABC company books of account as at 31 December 2019:

Additional information:

1- Included in revenue are invoices totalling RM120,000 in relation to distribution services rendered under a contract to a customer. The contract price was RM100,000 and provides for a RM20,000 bonus for early completion. The contract is currently 65% complete and management of ABC company believe that there is a 55% chance of early completion.

2- The patent was acquired during the year. Amortisation of RM20,000 should be charged to administrative expenses.

3- Inventories at 31 December 2019 were valued at RM1,304,000.

4- Costs not specifically attributable to one of the profit or loss expense items should be split 50:50 between distribution costs and administrative expenses.

5- Inventories carried at RM846,000 were purchased from Hong Kong in Hong Kong Dollar and payment is due on 2 March 2020. At the date of the transaction, the exchange rate was HK$1.55 to RM1.00. At 31 December 2019, the exchange rate was HK$1.50 to RM1.00.

6- A final ordinary share dividend for 2019 of RM50,000 was proposed in May 2020, payable on 28 June 2020.

7-RM450,000 cash was received during the year, as a result of a rights issue of ordinary shares. The nominal value of the shares issued was RM100,000.

8- On 1 June 2019, ABC company decided to sell its 2019 loss-making baby clothes division, as a result of severe competition from other companies in the market. ABC company is confident that the closure process will be completed by 30 April 2020. The division's operations represent in 2019, 10% of revenue (after all adjustments), 15% of cost of sales, 10% of distribution costs and 20% of administrative expenses. No disclosures are necessary in the statement of financial position.

Required:

Based on the above information, prepare the following financial statements for ABC company:

1- statement of changes in equity for the year ended 31 December 2019

RM 800.000 200.000 350,000 2,000,000 11,899.000 8,935,000 974.000 270,000 352.000 Item Saham biasal Ordinary shares 5% Saham keutamaan boleh tebus/ 5% Redeemable preference shares Akaun premium saham/ Share premium account Perolehan tertahan pada 1 Januari 2019/ Retained earnings at 1 January 2019 Hasil/ Revenue Belian/ Purchases Inventori pada 1 Januari 2019/ Inventories at 1 January 2019 Kos kakitangan/ Staff costs: Pengedaran/ Distribution Pentadbiran/ Administration Caj susutnilai bagi tahun ini/ Depreciation charge for the year: Tanah dan bangunan milik bebas Freehold land and buildings Peralatan pengedaran/ Distribution equipment Lain-lain loji dan peralatan/ Other plant and equipment Perbelanjaan am/ General expenses Faedah belum terimal Interest receivable Faedah belum bayarl Interest payable Cukai - Caj pada tahun ini Taxation - charge for the year Dividen dibayar/ Dividends paid: Saham biasa-akhir bagi 2018/ Ordinary shares-final for 2018 Saham biasa-interim bagi 2019/ Ordinary shares - interim for 2019 5% Saham keutamaan boleh tebus-bagi 2019/ 5% Redeemable preference shares-for 2019 30,000 11,600 160,000 432,000 41,000 35,000 336.000 60,000 30,000 10,000 RM 200.000 1,200,000 800,000 1,400,000 Item Hak paten/ Patent nights Tanah dan bangunan milik bebas - kos/ Freehold land and buildings - cost Peralatan pengedaran - kos/ Distribution equipment -cost Lain-lain loji dan peralatan - kos / Other plant and equipment -cost Susutnilai terkumpul pada 31 December 2019/ Accumulated depreciation at 31 December 2019: Tanah dan bangunan milik bebas/ Freehold land and buildings Peralatan pengedaran/ Distribution equipment Lain-lain loji dan peralatan/ Other plant and equipment Perdagangan belum terima/ Trade receivables Perdagangan belum bayar/ Trade payables Tunai dan kesetaraan tunail Cash and cash equivalents Liabiliti cukai/ Tax liability 130,000 320,000 250.000 1,600,000 850,000 300.000 400,000 RM 800.000 200.000 350,000 2,000,000 11,899.000 8,935,000 974.000 270,000 352.000 Item Saham biasal Ordinary shares 5% Saham keutamaan boleh tebus/ 5% Redeemable preference shares Akaun premium saham/ Share premium account Perolehan tertahan pada 1 Januari 2019/ Retained earnings at 1 January 2019 Hasil/ Revenue Belian/ Purchases Inventori pada 1 Januari 2019/ Inventories at 1 January 2019 Kos kakitangan/ Staff costs: Pengedaran/ Distribution Pentadbiran/ Administration Caj susutnilai bagi tahun ini/ Depreciation charge for the year: Tanah dan bangunan milik bebas Freehold land and buildings Peralatan pengedaran/ Distribution equipment Lain-lain loji dan peralatan/ Other plant and equipment Perbelanjaan am/ General expenses Faedah belum terimal Interest receivable Faedah belum bayarl Interest payable Cukai - Caj pada tahun ini Taxation - charge for the year Dividen dibayar/ Dividends paid: Saham biasa-akhir bagi 2018/ Ordinary shares-final for 2018 Saham biasa-interim bagi 2019/ Ordinary shares - interim for 2019 5% Saham keutamaan boleh tebus-bagi 2019/ 5% Redeemable preference shares-for 2019 30,000 11,600 160,000 432,000 41,000 35,000 336.000 60,000 30,000 10,000 RM 200.000 1,200,000 800,000 1,400,000 Item Hak paten/ Patent nights Tanah dan bangunan milik bebas - kos/ Freehold land and buildings - cost Peralatan pengedaran - kos/ Distribution equipment -cost Lain-lain loji dan peralatan - kos / Other plant and equipment -cost Susutnilai terkumpul pada 31 December 2019/ Accumulated depreciation at 31 December 2019: Tanah dan bangunan milik bebas/ Freehold land and buildings Peralatan pengedaran/ Distribution equipment Lain-lain loji dan peralatan/ Other plant and equipment Perdagangan belum terima/ Trade receivables Perdagangan belum bayar/ Trade payables Tunai dan kesetaraan tunail Cash and cash equivalents Liabiliti cukai/ Tax liability 130,000 320,000 250.000 1,600,000 850,000 300.000 400,000