Alpha Bhd has in issue 2 million ordinary shares of RM1 each. During year x2, Alpha Bhd discovered that some products costing RM100,00 that had been sold in year x1 were incorrectly included in closing inventory of year x1. Alpha accounting records for year x2 show sales of RM 1million , cost of sales of RM720,000 (including the error in opening inventory) and expenses of RM1 10,000. Current and previous years' tax rate is 25%. Example 6 In year x1, Alpha's summarised statement of profit or loss was: RM Sales 900,000 Cost of sales (450 000) Gross profit 450,000 Expenses (100,000) Profit before tax 350,000 Tax - 25% (87,500) Profit before tax 262,500 Opening retained profit was RM230,000. Required: Prepare the extract of the financial statements and comparatives