No need to refer to the rules

44Chapter 4 4.6 The following financial statements were presented to you as an examination question and you were required to present the financial statements in accordance with MFRS 101 Presentation of Financial Statements Meg Bhd Profit or Loss Account for the Year Ended 30 September x5 Revenue Cost of sales Expenses Investment income Tax paid Dividends paid on ordinary shares Dividends paid on reeleamable preference shares Profit after tax RM'000 37,000 (14,000) (10,000) 500 (2,000) (2,000) (1,500) 8,000 Balance Sheet as at 30 September x5 Property, plant and equipment Current assets 44,000 15,000 59,000 Share capital Rodesable preference shares Retained profit Liabilities 25,000 3,000 12,000 19,000 59,000 Additional information: a. Revenue includes the proceeds from the sale of plant of RM1,000,000 and revaluation surplus of property of RM2,000,000. The carrying amount of the plant disposed is RM500,000 which is included in cost of sales. Depreciation is charged in cost of sales b. Obsolete inventory included in the cost of sales is RM800,000. C. Expenses comprise the following items: Administrative expenses Selling and distribution expenses Directors' emoluments Auditors' fees Interest on loan RM'000 2,400 5,100 1,200 500 800 Tax expense for the year is RM2,100,000. Non-current assets comprise properly of RM32,000,000, plant of RM10,000,000 and equipment of RM2,000,000. Current assets comprise trades receivables of RM5,000,000, cash at bank of RM4,600,000 and inventory of RM5,4000,000 inclusive of obsolete inventory of RM800,000. Liabilities comprise non-current liabilities of loan stock of RM16,000,000 and trade payables Share capital comprises 15,000,000 fully paid ordinary shares. The redeemable preference shares were issued on 1October x4 and are redeemable at a premium-of 10-percent The effective dividend rate is 8 percent. d. e. f. g. h. Required: Redraft the financial statements in compliance with MFRS 101