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Given below are the financial statements of ABI Int. Group for the year ended 31 December 2013. OM Penyata pendapatan komprehensif bagi tahun berakhir 31 Disember 2013 Statements of comprehensive income for the year ended 31 December 2013 ABI Int. Bhd UDA Bhd RM'000 RM'000 Jualan / Sales 1,800 1,500 (-) Kos Jualan / Cost of sales 800 700 Untung Kasar / Gross profit 1,000 800 Tolak / Less: Perbelanjaan Jualan / Selling expenses 360 270 Perbelanjaan Pentadbiran / Administrative expenses 250 320 Lain-lain perbelanjaan / Other expenses 140 110 Untung sebelum cukai / Profit before tax 250 100 (-) Cukai / Tax 80 Untung selepas cukai / Profit after tax 170 70 30 UDA Bhd RM'000 150 100 (80) Statements of financial position as at 31 December 2013 ABI Int. Bhd RM'000 Tanah / Land 500 Mesin pada harga kos / Machinery at cost 400 Susutnilai terkumpul / Accumulated depreciation (100) Pelaburan di dalam UDA Bhd / Investment in UDA Bhd 200 Inventori / Inventory 200 Akaun belum terima y Account receivables Bank / Bank 1400 Saham biasa pada RM1 setiap satu 700 Ordinary shares of RM1 each Perolehan tertahan / Retained earnings 260 Akaun belum bayar / Account payables 240 Overdraf / Overdarft 200 1400 120 100 100 30 400 80 100 220 80 400 Statement of changes in equity (partial) for the year ended 31 December 2013 ABI Int. Bhd UDA Bhd RM'000 RM'000 Perolehan tertahan awalBeginning retained earnings 160 150 (+) Untung tahun semasa / Profit for the year 170 70 (-) Dividen / Dividend 70 Perolehan tertahan akhir / Ending retained earnings 260 220 ABI Int. Bhd acquired 80% interest in UDA Bhd on 1 January 2010. At the acquisition date, net assets of UDA Bhd were represented by its share capital of RM100,000 and retained earnings of RM100,000. The market price of UDA's shares on that date was RM 1.50. ABI Int. Bhd also paid RM45,000 to Tin & Tin Associate for the services rendered in relation to the acquisition. The excess payment is for goodwill. in February 2010, ABI Int. Bhd sold a piece of land (carried in its book at RM150,000) to UDA Bhd at cost. modo 20 Disember 2012 ADI Dud salah meninalohuah mesin konada TIDA On 30 December 2013, ABI Int. Bhd sold a piece of machinery to UDA Bhd for RM70,000. The machinery was bought by ABI Int. Bhd for RM100,000 in January 2010 and its accumulated depreciation on 30 December 2013 was RM40,000. The market value of the machinery at this date is approximately equal to the book value carried in the books of ABI Int. Bhd. Since UDA Bhd was taken over in 2010, it has been selling goods to ABI Int. Bhd at cost plus 25%. In 2013, the intragroup sales was RM100,000. ABI's opening inventory and ending inventory for 2013 were RM22,000 and RM33,000 respectively (all these goods were bought from UDA Bhd). As at 31 December 2013, ABI's account payables includes an amount of RM10,000 payable to UDA Bhd for the goods purchased. It is the group policy to (i) measure non-controlling interest on acquisition date at fair value of the net identifiable assets of the subsidiary; (ii) depreciate property, plant and equipment (PPE) using the straight line method and to provide a full year's depreciation if the asset has been used for more than 6 months in the year, (iii) account its investment property using the fair value model; and (iv) account its property, plant and investment using the cost model. Assume income tax rate is 30%. nauda atabs bra nossa 089 Dikehendaki / Required: Based on the above information, prepare the consolidated statement of comprehensive income, consolidated statement of financial position, and consolidated statement of changes in equity (group retained earnings only) for ABI Int. Bhd and its subsidiary for the year ended 31 December 2013. Show all relevant workings. Given below are the financial statements of ABI Int. Group for the year ended 31 December 2013. OM Penyata pendapatan komprehensif bagi tahun berakhir 31 Disember 2013 Statements of comprehensive income for the year ended 31 December 2013 ABI Int. Bhd UDA Bhd RM'000 RM'000 Jualan / Sales 1,800 1,500 (-) Kos Jualan / Cost of sales 800 700 Untung Kasar / Gross profit 1,000 800 Tolak / Less: Perbelanjaan Jualan / Selling expenses 360 270 Perbelanjaan Pentadbiran / Administrative expenses 250 320 Lain-lain perbelanjaan / Other expenses 140 110 Untung sebelum cukai / Profit before tax 250 100 (-) Cukai / Tax 80 Untung selepas cukai / Profit after tax 170 70 30 UDA Bhd RM'000 150 100 (80) Statements of financial position as at 31 December 2013 ABI Int. Bhd RM'000 Tanah / Land 500 Mesin pada harga kos / Machinery at cost 400 Susutnilai terkumpul / Accumulated depreciation (100) Pelaburan di dalam UDA Bhd / Investment in UDA Bhd 200 Inventori / Inventory 200 Akaun belum terima y Account receivables Bank / Bank 1400 Saham biasa pada RM1 setiap satu 700 Ordinary shares of RM1 each Perolehan tertahan / Retained earnings 260 Akaun belum bayar / Account payables 240 Overdraf / Overdarft 200 1400 120 100 100 30 400 80 100 220 80 400 Statement of changes in equity (partial) for the year ended 31 December 2013 ABI Int. Bhd UDA Bhd RM'000 RM'000 Perolehan tertahan awalBeginning retained earnings 160 150 (+) Untung tahun semasa / Profit for the year 170 70 (-) Dividen / Dividend 70 Perolehan tertahan akhir / Ending retained earnings 260 220 ABI Int. Bhd acquired 80% interest in UDA Bhd on 1 January 2010. At the acquisition date, net assets of UDA Bhd were represented by its share capital of RM100,000 and retained earnings of RM100,000. The market price of UDA's shares on that date was RM 1.50. ABI Int. Bhd also paid RM45,000 to Tin & Tin Associate for the services rendered in relation to the acquisition. The excess payment is for goodwill. in February 2010, ABI Int. Bhd sold a piece of land (carried in its book at RM150,000) to UDA Bhd at cost. modo 20 Disember 2012 ADI Dud salah meninalohuah mesin konada TIDA On 30 December 2013, ABI Int. Bhd sold a piece of machinery to UDA Bhd for RM70,000. The machinery was bought by ABI Int. Bhd for RM100,000 in January 2010 and its accumulated depreciation on 30 December 2013 was RM40,000. The market value of the machinery at this date is approximately equal to the book value carried in the books of ABI Int. Bhd. Since UDA Bhd was taken over in 2010, it has been selling goods to ABI Int. Bhd at cost plus 25%. In 2013, the intragroup sales was RM100,000. ABI's opening inventory and ending inventory for 2013 were RM22,000 and RM33,000 respectively (all these goods were bought from UDA Bhd). As at 31 December 2013, ABI's account payables includes an amount of RM10,000 payable to UDA Bhd for the goods purchased. It is the group policy to (i) measure non-controlling interest on acquisition date at fair value of the net identifiable assets of the subsidiary; (ii) depreciate property, plant and equipment (PPE) using the straight line method and to provide a full year's depreciation if the asset has been used for more than 6 months in the year, (iii) account its investment property using the fair value model; and (iv) account its property, plant and investment using the cost model. Assume income tax rate is 30%. nauda atabs bra nossa 089 Dikehendaki / Required: Based on the above information, prepare the consolidated statement of comprehensive income, consolidated statement of financial position, and consolidated statement of changes in equity (group retained earnings only) for ABI Int. Bhd and its subsidiary for the year ended 31 December 2013. Show all relevant workings