Below is a list of account balances at 31 December 2016 of Suria Bhd, a trading company located in Jitra, Kedah.

	RM
Account receivables	91,382
Accounts payable	30,780
Accumulated depreciation buildings	14,520
Accumulated depreciation - equipment	4,830
Buildings	1,143,900
Cash	1,095,220
Cost of goods sold	713,460
Deferred tax liability	18,000
Equipment	420,000
Gain on revaluation of properties	24,700
Gain on sale of land	91,300
Gain on translation of foreign operations	4,900
Patent	50,230
Inventory	459,958
Land	306,444
Maintenance and repair expenses	9,960
Notes payable	162,000
Office expense	11,738
Prepaid insurance	48,000
Property tax expense	1,400
Rent revenue	48,000
Retained earnings	760,600
Revaluation reserve	467,200
Salaries and wages expenses	21,112
Sales returns and allowance	980
Sales revenue	1,865,150
Share capital	732,304
Translation of foreign operations reserve	219,300

Additional information:

1. Payment for one-year insurance coverage was made on 1 October 2016.

2. The company received cash RM25,000 from customers on 30 December 2016 and recorded it as sales revenue. However, the company only managed to supply the merchandise on 5 January 2017.

3. A tenant of office space has not yet paid a rental for December 2016 amounting to RM3,500.

4. An unpaid salary and wages as of 31 December 2016 is RM12,000.

5. The company returned defective merchandise bought from the supplier and received a full cash refund. The cost of the merchandise returned is RM1,500. This transaction is not yet recorded.

6. Annual depreciation for building and equipment are RM3,240 and RM2,500 respectively.

7. 25% of the notes payable is due next year. The note payable interest rate is 8% per annum.

8. Income tax expense for 2016 is RM69,800.

9. No dividend has been declared.

REQUIRED:

1. Journalize the adjusting entries on 31 December 2016.
2. Prepare a Statement of Profit or Loss and Other Comprehensive Income for Suria Bhd for the year ended 31 December 2016 according to MFRS 101 Presentation of Financial Statement.
3. Prepare a Statement of Financial Position for Suria Bhd as at 31 December 2016 according to MFRS 101 Presentation of Financial Statement.