Edward Berhad is a trading company selling accessories with a share capital of RM12 million consisting of 4,000,000 Ordinary Shares of RM2 each and 4,000,000 5% Redeemable Preference Shares of RM1 each. The following is the list of balances extracted from the accounts of the company as at 31 December 2020. Debit [RM] Credit [RM] Ordinary Shares 5% Redeemable Preference Shares General Reserves 8,000,000 4,000,000 956,000 Retained Profit as at 1 January 2020 1,952,000 10% Bank Loan 1,000,000 Land 6,000,000 Buildings 4,500,000 Motor Vehicles 2,500,000 Office Equipment 750,000 Accumulated Depreciation as at 1 January 2020: Buildings Motor Vehicles 900,000 1,500,000 Office Equipment 225,000 Investment 3,800,000 Inventories 2,311,500 Account receivables and payables 2,176,000 1,161,000 Cash at Bank 3,105,000 Allowance for doubtful debts 62,500 Gross profit 8,750,000 Dividend income 365,000 Salaries 1,650,000 Utilities 105,000 Bad debts 11,000 Directors' remuneration 850,000 Loan interest 50,000 Interim redeemable preference dividend 100,000 Interim ordinary dividend 174,000 Tax paid 515,000 Advertising 75,000 Selling and distribution expenses 199,000 28,871,500 28,871,500 Additional information: 1. The company's net sales for the year amounted to RM29,505,000. On 28 December 2020, a customer ordered a new product from the company and paid a deposit of RM100,000. The company promised to deliver the product by the end of January 2021. This amount was recorded as sales during the year. 2. Net realizable value of the inventory at the end of the financial year amounts to RM2,300,000. 3. The following adjustments have not been recorded yet: Audit fees of RM8,500 is still accrued at the end of the accounting period. The company still owed loan on interest and dividend on redeemable preference shares. RM300,000 was transferred to General Reserve. 4. During the year, the company purchased a new motor vehicle costing RM250,000. This cost was already recorded in the accounts. 5. Land is not depreciated but was revalued to RM6,500,000 during the year. 6. Other property, plant and equipment were depreciated as follows: Buildings Office equipment value Motor vehicles 5% per annum on cost 10% per annum on net book 10% per annum on cost 7. Depreciation on building and office equipment are to be charged as administrative expenses. 8. The depreciation on motor vehicles are to be shared equally by administrative and selling and distribution department. 9. On 15 January 2021, the board of directors declared a final ordinary dividend of 5% to be paid on 1 March 2021. 10. The current year taxation is estimated to be RM500,000. Required: Prepare the following statements in a form suitable for publication and in compliance with the Companies Act 2016 and approved accounting standards for publication purposes: a. Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020. (12 marks) b. Statement of Changes in Equity for the year ended 31 December 2020. (4 marks) c. Statement of Financial Position as at 31 December 2020. (8 marks) d. Notes on Property, plant and equipment. (Show all necessary workings) (6 marks) (Total: 30 marks)