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Question 2 Alzeban Bhd's Statement of Profit and Loss and Statement of Financial Position are given below: Alzeban Bhd Statement of Profit and Loss for the year ended 31 December 2020 Sales revenue Cost of goods sold Gross Profit Gain on sale of motor vehicle 1.000.000 (620,800) 379,200 1,800 381,000 Less: Expenses Wages and salary Administrative and selling Depreciation Interest Expense Loss on sale of machinery Profit before tax Less: Taxation Profit after tax (100,000) (163,280) (25,400) (4.000) (6,800) 81,520 (22,200) 59,320 Alzeban Bhd Statement of Financial Position as at 31 December 2020 2020 RM Assets Land Motor vehicles Machinery Inventories 2019 RM 100,000 214,400 199,320 108,800 143,600 260,000 228,000 107,920 EAB 20703 Financial Accounting and Reporting 2 2 Page 4 of 7 SEPTEMBER 2020 CONFIDENTIAL Trade receivables Bank 116,800 149,712 889,032 124,800 156.792 1,021,112 260.000 180,000 83,592 Equity and liabilities Ordinary shares of RM1.00 each 10% preference shares of RM1.00 each Asset revaluation reserve Retained earnings 8% bank loan Trade payables Tax payables Accumulated depreciation: Motor vehicles Machinery 308,000 180.000 43,600 106,912 40,000 201,000 4,200 234,200 46,080 85,160 45,960 91,440 889,032 1,021,112 Additional information: 1. An existing machinery costing RM70,080 was sold during the year for cash. 2. Land was revalued to RM143,600 during the year. 3. Depreciation charged for motor vehicles and machinery during the year were RM10,400 and RM15,000 respectively. 4. A motor vehicle was sold during the year for RM20,000 cash. 5. Dividend paid for the year ended 31 December 2020 amounted to RM16,800 for 10% preference shares and RM19,200 for ordinary shares. Required: (a) Prepare the Statement of cash flows for Alzeban Bhd for the year ended 31 December 2020 using the indirect method. (Show all workings). (35 marks)