Lily Sdn Bhd. is a construction company which prepares its financial statements on 31 August each year. During the year ended 31 August 2020, the company commenced a contract that is expected to take more than one year to complete. The contract summary at 31 August 2020 is as follows; Additional information: i) The agreed value of the work completed at 31 August 2020 is considered to be equal to the revenue earned in the year ended 31 August 2020. ii) The percentage of completion is calculated as the value of the work invoiced. Required to: Calculate the expected total outcome and effect of the above contract on the financial statements at 31 August 2020. (20 marks)