Given below is the list of balances of Sinar Berhad as at 31 December 2020.

Ordinary Shares of RM1 each

8% Preference Shares of RM 1 each 10% Debentures

Share premium

Retained profit

Bank loan

Building (cost)

Plant (cost)

Office equipments (cost)

Accumulated depreciation 1 January 2020: Building

Plant

Office equipments

Inventory 1 January 2020 Trade receivables

Trade payables

Bank balance

Tax paid

Purchases

Turnover

Salaries

Rent and utilities

Advertising expenses

Administrative expenses

Selling expenses

Insurance expenses of office building Debentures interest paid

Preference dividend paid- interim Ordinary dividend paid- interim

RM

300,000 100,000 150,000

40,000

11,500 122,000

80,000 100,000 45,000

RM

380,000 300,000 150,000

33,000 61,000

54,000 96,000

22,000 155,000

720,000 220,000

32,800

28,000 110,000 95,000 23,000 7,500 4,000 5,200

1,722,500

1,722,500

Additional information:

1. Depreciation charges for current year have not been provided and the company has the following depreciation policy:

Buildings 2% per annum on cost

Plant 5% per annum on cost

Office equipments 10% per annum on cost

2. Closing inventory as at 31 December 2020 was RM81,000.

3. Prepaid selling and distribution expenses amounted to RM15,000.

4. Accrued audit fee amounted to RM32,000.

5. Debenture interest for the second half year has not been provided.

6. Final preference dividend was proposed before financial year end.

7. Tax expense on the current year profit is calculated to be RM17,000.

Required:

a. Prepare the Statement of Comprehensive Income of Sinar Berhad for the year ended 31 December 2020.

(10 marks)

b. Prepare the Statement of Changes in Equity of Sinar Berhad as at 31 December 2020.

(10 marks)

c. Prepare the Statement of Financial Position of Sinar Berhad as at 31 December 2020.