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Jack Sdn Bhd and Jill Sdn Bhd each carry on business as wholesalers of the same product. Their financial statements for the year ended 31
Jack Sdn Bhd and Jill Sdn Bhd each carry on business as wholesalers of the same product. Their financial statements for the year ended 31 December 2023 are summarised below: Statement of comprehensive income for the year ended 31 December 2023 Jack Sdn Bhd Jill Sdn Bhd RM'000 RM'000 RM'000 RM'000 Sales 3,600 4,350 Cost of goods sold (2,700) (3,480) Gross profit 900 870 Expenses: Administration 450 450 Selling 150 190 Interest - 600 30 670 Net profit before tax 300 200 Tax 120 90 Net profit after tax 180 110 Dividends 45 60 Retained profits 135 50 Statement of financial position as at 31 December 2023 Jack Sdn Bhd Jill Sdn Bhd RM'000 RM'000 RM'000 RM'000 Non-current asset !,200 960 Current assets Stock 825 485 Debtors 900 750 Bank 75 1,800 5 1,240 Total assets 3,000 2,200 Share capital and reserve Ordinary share capital 1,500 500 Reserves 735 270 10%debenture 300 Current liabilities Creditors 765 1,050 Bank overdraft - 765 80 1,130 3,000 2,200.
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