Closing inventory has been valued at the cost of RM798,000.

Energy expenses of RM30,000 for December 2020 have not been invoiced or recorded.

Insurance expenses include RM10,000 for January and February 2021.

Depreciation is to be charged as follows:

Plant at 25% of written down value, allocated to cost of sales.

Buildings are depreciated at 5% per annum on their original cost, allocated 50% to cost of sales, 30% to distribution costs and 20% to administrative expenses.

Based on past experience the allowance for receivables is to be adjusted to 5% of trade receivables and allocated to administrative expenses.

Land was revalued at 31 December 2020 to RM500,000.

The intangible assets were purchased on 1 January 2020 and have a useful life of five year. Amortisation is to be charged to administrative expenses.

Tax of RM40,000 is to be provided for the year.

The expenses listed below should be apportioned as follows:

Required:

Prepare the following statements, FOR EXTERNAL USE in accordance with MFRS 101 Presentation of Financial Statements:

(a) a comprehensive income statement for the year ended 31 December 2020