Question 1 The following trial balance was extracted from the books of HoodRobin Bhd as at 31 December 2019. Hood Robin Trial Balance as at 31 December 2019 Debit Credit RM'000 RM'000 Turnover 880,000 Inventory at 1 January 2019 10,000 Trade receivables and payables 60,000 55,000 Purchases 400,000 Administrative salaries 98,000 Selling and distribution expenses 65,000 Finance expenses 5,500 Investment 234,000 Cash in hand and bank 10,500 Director's remuneration 34,000 Auditor's fees 3,000 Ordinary share capital - 400 million shares as at 1 425,000 January 2019 Retained profit as at 1 January 2019 67,000 5% debentures repayable in 10 years 140,000 Interim dividend paid 15,000 Debentures interest paid 6,000 Tax paid 65,000 Tax underprovided 2,000 Plant and machinery at cost 100,000 Building at cost 400,000 Additional information: 1. Included in the turnover is RM2 million for receipt that the company's auditor has advised are commission sales 2. A physical count of inventories at the end of financial year revealed inventory at a cost of RM15,000,000. However, inventory costing RM4,000,000 was damaged and it was estimated that it could be sold for RM3,000,000. 3. Depreciation is charged on the following asset: Plant and machinery Building : 10% on cost :5% on net book value Depreciation is charged as follows: Plant and machinery (cost of sales) Building (administrative expenses) 4. The income tax expense for the year is RM70,000,000. 5. On 20 December 2019, the company proposed a final dividend of 5% 6. Land was revalued during the year. The surplus on revaluation was RM1,500,000. 7. At the end of the financial year, a bonus issue of 10,000,000 units was made and the company decided to utilize the Retained Profit for this purpose. These shares are not ranked for the dividend. Required: (a) Prepare the statement of profit or loss and other comprehensive income for the year ended 31 December 2019. (10 marks) (b) Prepare the statement of changes in equity for the year ended 31 December 2019. (5 marks) (c) Prepare the statement of Financial Position as at 31 December 2019. (10 marks)