Hello, I'm an accounting and finance student i need help in making SOFP from the following information:

Development cost capitalised, 1/1/18

180,000

Freehold land as revalued 31/12/18

2,200,000

Buildings - cost

900,000

Provision for depreciation - Buildings at 1/1/18

100,000

Office equipment - cost

260,000

Provision for depreciation - office equipment at 1/1/18

60,000

Motor vehicles - cost

200,000

Provision for depreciation - motor vehicles at 1/1/18

90,000

Trade receivables

1,360,000

Cash at bank

90,000

Trade payables

820,000

12% Debentures (issued 2017 and redeemable 2020)

1,000,000

Share capital - RM 0.50 each

1,000,000

Share premium

500,000

Revaluation reserve

200,000

Retained earnings 1/1/18

1,272,000

Sales revenue

8,650,000

Purchases

5,010,000

Research and development expenditure

162,000

Inventories 1/1/18

990,000

Distribution costs

460,000

Administrative expense

1,560,000

Debenture interest

120,000

Interim dividend

200,000

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In preparing the company's financial statements at 31 December 2018, the following further information is relevant:

Inventory at 31 December 2018 was RM 880,000

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2- Depreciation is to be provided for as follows:

Land:

Nil

Buildings :

2% per annum on cost

Office equipment:

20% per annum, reducing balance basis

Motor vehicles:

25% per annum on cost

Depreciation on buildings and office equipment is all charged to administrative expenses. Depreciation on motor vehicles is to be split equally between distribution costs and administrative expenses.

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The RM 180,000 total for development costs as at 1 January 2018 relates to two projects:

Project X: completed project (balance being amortized over the period expected to benefit from it. Amount to be amortized in 2018: RM20,000)

82,000

Project Y: in progress

98,000

=180,000

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The research and development expenditure for the year is made up of:

Research expenditure

103,000

Development costs on project Y that continues to satisfy the requirements in IAS38 for capitalization

59,000

=162,000

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The freehold land had originally cost RM2,000,000 and was revalued on 31 December2018.

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Prepayments and accruals at 31 December 2018 were:

Administrative expenses

prepayments:40,000

accruals:11,000

Sundry distribution costs

prepayment: 0

accruals: 4,000

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The share premium account balance arose as a result of the issue during 2018 of 1,000,000 RM0.50 equity shares at RM1 each. All shares qualified for the proposed final dividend to be provided for.

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A final dividend of RM0.20 per share is proposed.

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