Best Glove Berhad, a public company, closes its accounts on June 30 every year. The company reported the following unadjusted trial balance on June 30, 2020: Debit Credit RM RM Property, plant and equipment 985,360 Cash and cash equivalent 52,500 Prepayment 14,400 Patent 150,000 Sales revenue 1,220,150 Sales return 12,150 Cost of sales 778,550 Other income 13,810 Inventory 144,000 Trade receivables 57,000 Allowance for doubtful account 6,400 Unearned rent revenue 7,200 Administrative expenses 123,000 Other operating expenses 57,300 Tax expense 22,900 Trade payables 80,500 Other payables 19,000 12% Long-term loan 100,000 Ordinary share capital 830,000 Retained earnings (as at 1/7/2019) 125,500 Finance costs ____5,400 ________ _2,402,560 2,402,560 The following are yet to be adjusted as at year end June 30, 2020. a. The inventory has a net realizable value of RM130,000. b. The unearned rent revenue recorded 3 months rent revenue collected in advance on 1 May 2020. c. It was determined that RM2,050 of customer balance is to be written off at year end 2020. A cheque for RM900 is received from a customer whose account was written off in the previous accounting year, 2019. The company estimates 10% of outstanding trade receivable balance to be uncollectible in the current year. d. Property, plant and equipment consists of: Cost (RM) Accumulated depreciation (RM) Freehold land 250,000 - Plant and machinery 86,500 31,140 Building 800,000 120,000 Additional information regarding property, plant and equipment: i. Freehold land is revalued to RM330,000 ii. Plant and machinery are depreciated at 20% per annum on diminishing balance method. iii. Building is depreciated at 5% per annum on straight line method. The entity charges depreciation of plant and machinery as cost of sales and depreciation of building as administrative expenses. e. The patent was acquired on July 1, 2019 and provide legal life of over 30 years. However, it is expected to benefit the company for only 15 years. f. On May 31, 2020, the company declared a 3.5% dividend on ordinary shares, payable on July 10, 2020. Required: Prepare: 1. Statement of profit or loss and other comprehensive income for the year ended June 30, 2020. 2. Statement of changes in equity for the year ended June 30, 2020. 3. Statement of financial position as at, June 30, 2020