EXERCISE 1 The following is the trial balance of Maq Bhd as at 31 December 2016: Debit (RM) Credit (RM) Cash 120 000 Prepayment expenses 13.500 Trade receivable and payables 90 750 150 750 Inventory 60 000 Overdraft bank 48 000 Gross profit Selling expenses Administrative 216 000 45 000 82 500 3000 Debenture interest Plant and machinery (cost) Building (cost) Accumulated depreciation- 1 Jan 2015 Plant and machine Building Ordinary shares of RM 2.5 each share Share premium General reserve 270 000 390 000 165 000 30 000 300 000 15 000 30 000 60 000 Retained profit- 1 Jan 2015 10% debenture Additional information: i) Provision are to be made for: 60 000 1 074 750 1074 750 Depreciation on plant and machinery at 15% on book value Depreciation on building at 10% on cost Provision of doubtful debts is to be 5% of debtors Second half year's debenture interest ii) Tax rate is 28% iii) iv) Transfer of RM 15 000 to general reserved To provide for final ordinary shares dividend of RM 0.55 per share You are required to: a) Prepare Statement of Comprehensive Income for the year ended 31 December 2016. [10 marks] b) Prepare Statement of Changes in Equity for the year ended 31 December 2016 c) Prepare Statement of Financial Position as at 31 December 2016. [5 marks] [10 marks]