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i need the answer today FRV Company SAOG (the Company) is an Omani joint stock company registered under the Commercial Companies Law of the Sultanate

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FRV Company SAOG (the "Company") is an Omani joint stock company registered under the Commercial Companies Law of the Sultanate of Oman. The registered address, principal office and the manufacturing facility is located at Quriyat, Sultanate of Oman. The Company's shares are listed in the Muscat Securities Market. The principal activities of Company are the manufacture and sale of electrical products including associated works. The given below are the details of the balances as at the end of the year 2019: The total revenue from the year is from 3 product lines as follows: Product 1: RO 33,101,256; Product 2: RO 11.456,211; Product 3: RO 716,279 The operating cost i.e. cost of sales includes RO 14,742,000 towards material consumed, Direct wages RO 7,070,800, Utilities and other related cost RO 2.014,324. The company also had other income for Interest RO 8,800, claims and penalties received RO 1,800,150 and rental income of RO 202,315. The company had taken Term Loan from Banks and the balance at the end of the year was RO 80,973,155. The current portion of long-term loans amounted to RO 8,453,000 The employee end of service benefits amounted to RO 45,468. Salaries and staff related allowances amounted to RO 815,998. The general and administrative expenses include the following expenses fees and subscriptions RO 270,800, legal charges RO 111,235, communication expenses RO 53,315. Directors remuneration and sitting fees RO 142,000, printing and stationery RO 123,000, and other office expenses RO 50,985. Trade payables amounted to RO 1,256,000. Other payables and accrued expenses amounted to RO 5,751,471. Trade receivables amounted to RO 4,388,195. Prepayments and other receivables were RO 281,621. The selling and distribution expenses consists of RO 10,855 for travel expense, RO 142,335 for advertising and RO 95,475 as distribution expenses. Interest on long term loans amounted to RO 3,545,600 and other interest payments were RO 495,202 Income tax expense for the year amounted to RO 1,559,095, Provision for tax amounted to RO 865,235 and deferred tax liability was calculated to be RO 12,346,582 The company had an authorized share capital of 500,000,000 ordinary shares of RO 0.200 each of which issued and paid up shares were 80,000,000 There was a balance of RO 5,000,000 in legal reserve and RO 418,888 balance in special reserve The retained earnings amount before the adjustment of net profit was RO 13,395,721 Cash in hand balance was RO 10,000 and balance in bank current accounts amounted to RO 7,321,311 Inventories at end of the year included Material RO 3,487,621, Finished stock RO 629,732 Investments amounted to RO 210,474. Property plant and equipment includes the following assets as given below with their respective amounts of cost and accumulated depreciation as at the year-end: Cost RO Accumulated Depreciation RO Plant and Machinery 173,788,858 46,560,655 Tools 110.063 110.063 Motor vehicles 127,483 96,680 Furniture and fixtures 601.141 565.353 Capital spares 3.613,585 2,032,072 Capital work in progress 2.280 628 Nil The depreciation charged for the year is as follows: RO Depreciation on Plant and Plant and Machinery 4,339.491 Machinery and capital spares Tools Nil to be included in cost of sales Motor vehicles 10.413 and the remaining depreciation Furniture and fixtures 15,720 is allocated as general and Capital spares 242.999 administrative cost Capital work in progress Nil Unrealized gain on changes in fair value RO 144,250 Basic earnings per share is calculated by dividing the net profit for the year by the number of shares outstanding during the year. Net assets per share is calculated by dividing the net assets at the end of the reporting period by the number of shares outstanding. You are required to prepare Statement of Comprehensive Income and Statement of Financial position for the year ended 2019 in accordance with IFRS and other governing laws and practices followed in Oman. (15 marks)

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