on 31 'b) Ichor Sdn Bhd ISB) closes its accounts annually December. On 3 May 2018, the company disposed of a company car for RM60,000. ISB acquired the car on a hire purchase basis on 1 July 2015 for RM200,000 for use by the managing director. The residual expenditure brought forward at 1 January 2018 was RM10,000. Required: Calculate the balancing adjustment which arises for Ichor Sdn Bhd on the disposal of the car on 3 May 2018 for the year of assessment 2018. 12 marks)