Presentation of Financial Statements and Segmental Analysis : IAS 1, Statement of cash flows: IAS7, Accounting policies accounting estimates: IAS 8 2020 (1000) 2019 (1000) Sales 1,660 1.740 Cost of goods sold 670 730 Gross profit 990 1,010 Expenses 590 560 Profit before taxation 400 450 Taxation 80 90 Profit after taxation 320 360 The additional trade receivables of f100,000 are still outstanding at 30 June 2020. The sales figure for the year to 30 June 2020 shows only the sales revenue for that year and does not include the sales of $100,000 which were omitted from the previous year's financial statements. Retained earnings at 30 June 2019 were originally reported as $1 220 000. No dividends were paid during the two years to 30 June 2020. It may be assumed that the company's tax expense is always equal to 20% of the profit before taxation. (a) Revise the extract from the statement of comprehensive income for the year to 30 June 2020, showing restated comparative figures for the year to 30 June 2019. (b) Compute the company's retained earnings at 30 June 2020, showing changes to retained earnings