On 1 January 2017, VMS Bhd owns 50% of JV S&0. Bhd., the joint venture. The following are the financial statements of VMS Bhd, and IV Sdo. Bhd. at 31 December 2017 Statement of Financial Position 31 December 2017 VMS Bhd JV Sdn. Bhd RM 000 RM 000 Non-Current Assets 1,000 160 Investment at JV at cost 60 Current Assets 340 120 Total Assets 1,400 280 Current Liabilities w50) (20) Non-current Liabilities (250) (60) Net Assets 1,100 200 Equity Shareholders' equity 700 120 Retained Earnings 400 80 1,100 200 Income Statement 31 December 2017 IV Sdn Bhd RM '000 RM 000 Revenue 1,200 300 Cost of sales (600) (160) Other expenses 1200) (50) Net Income 1,400 BO VMS B Using the equity method, what is the value of the investment in JV in RM) Using the equity method, what is the value of the total assets in RM Using the equity method, what is the Share of profit of JV in AM Using the equity method, calculate the net income of JV in RM On 1 January 2017, VMS Bhd owns 50% of JV S&0. Bhd., the joint venture. The following are the financial statements of VMS Bhd, and IV Sdo. Bhd. at 31 December 2017 Statement of Financial Position 31 December 2017 VMS Bhd JV Sdn. Bhd RM 000 RM 000 Non-Current Assets 1,000 160 Investment at JV at cost 60 Current Assets 340 120 Total Assets 1,400 280 Current Liabilities w50) (20) Non-current Liabilities (250) (60) Net Assets 1,100 200 Equity Shareholders' equity 700 120 Retained Earnings 400 80 1,100 200 Income Statement 31 December 2017 IV Sdn Bhd RM '000 RM 000 Revenue 1,200 300 Cost of sales (600) (160) Other expenses 1200) (50) Net Income 1,400 BO VMS B Using the equity method, what is the value of the investment in JV in RM) Using the equity method, what is the value of the total assets in RM Using the equity method, what is the Share of profit of JV in AM Using the equity method, calculate the net income of JV in RM