Question 1 Cool Tarro Bhd. has authorized capital amounting to RM1,000,000, which consists of 800,000 units of ordinary shares valued at RM1 each and 200,000 units of 10% preference shares valued at RM1 each. The following information was taken from Cool Tarro's book as at 31 December 2016. Debit (RM) Ordinary shares of RM1 each 10% preference shares of RM1 each General reserve Credit (RM) 300,000 50,000 20,000 Retained profit - 31 Dec 2015 19,000 Purchase and sales 250,000 750.000 nentories - 31 Dec 2015 100.000 barn inwards 5,000 Carriage inwards 18,800 ce solares 100,000 Wolor expenses 25.000 General distribution expenses 70,000 General administrative expun 40.00 Sebanture Intel 2,000 tos drhentures R0,000 Rotor vehicles - at cos! 90.000 Provision for depreciation - Motor Velocles 20.000 01 Dec 2015) Trache debtor 49,700 Trade editor 34,500 Rosean and development (Coodwill 715,IXIO Doctor remuneration 60,XI Bank 120 KN Land ani Bulding 350,000 Provision for depreciation Land and 80,000 Bullding (01 Dec 2015 358,50 1353.500 onal information: Closing inventering as at 31 December 2016 was RM110.000. Provisions are to be made for: ) Depreciation on dotor vehicles at 25%, and land and building at 20%. 03) The market value of land azul building as at 31 Decemher 2016 was RM395,000 D) The accrual debenture interest for the year ended 31 December 2016 Wrhe off RM10,000 for research and development cost. To transfer to the general reserve RM5,000 and to assume that the basic ate of company income tax is 27%. heference dividends and ordinury dividends of 10% is to be proposed. po You are required to prepare: (a) The Statement of Comprehensive Income for the year ended 31 December 2016. (b) The Statement of Changes in Equity for the year ended 31 December 2016. (c) The Statement of Financial Position as at 31 December 2016. (d) The notes to the accounts required