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QUESTION 1 (25 MARKS) Consider the following account balances for Ekovest Berhad, a manufacturing company. ITEM Direct Materials Inventory Work-In-Process Inventory Finished-Goods Inventory Purchases

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QUESTION 1 (25 MARKS) Consider the following account balances for Ekovest Berhad, a manufacturing company. ITEM Direct Materials Inventory Work-In-Process Inventory Finished-Goods Inventory Purchases Of Direct Materials Direct Manufacturing Labour Indirect Manufacturing Labour Plant Insurance Depreciation Plant, Building, And Equipment 1 JAN 2020 31 DEC 2020 (RM'000) (RM '000) 21,000 23,000 26,000 25,000 13,000 20,000 74,000 22,000 17,000 7,000 11,000 3,000 91,000 24,000 Repairs & Maintenance - Plant Marketing, Distribution and Customer-Service Costs General And Administrative Costs 1. Revenues (in thousands) for 2020 were RM310,000. Prepare the Income Statement for 2020.

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