QUESTION 2 (25 MARKS) Core Bhd, with authorized capital of RM5,000,000 divided into 3,500,000 Ordinary shares worth RM3,500,000 and 750,000 7% Preference shares worth RM1,500,000. Given below is the list of balances of the company as at 31 December 2020. Debit Credit (RM) (RM) 1,000,000 Ordinary shares 1,000,000 125,000 7% Preference shares 250,000 Retained profit (1 January 2020) 390,000 8% Long term loans 50,000 Turnover 2,140,200 Account payables 303,300 Dividend income from investment 144,000 Interim ordinary dividend paid 25,000 Interim preference dividend paid 10,000 Cost of sales 850,000 Land 700,000 Fixtures and fittings at cost 640,000 Motor vehicles at cost 1,000,000 Office equipment at cost 586,000 Cash at bank 458,500 Loan form directors 172,000 Goodwill 95,000 Account receivables 400,000 Investment 320,000 Closing inventories at cost 185.000 Administrative expenses 115,000 Motor vehicles repairs expenses 180,000 Tax paid 180,000 Accumulated depreciation: Office equipment 314,400 Fixtures and fittings 537,600 Motor vehicles 400,000 Selling and distribution expenses 76,000 Interest on loan 2,000 Discount received 121,000 5,822,500 5,822,500 Additional information: 1. The net realizable value of the inventories on 31 December 2020 was RM150,000. 2. A piece of land was revalued during the year resulting in an increase of RM100,000. 3. Depreciation charges on: Office equipment RM39,300 Fixtures and fittings 37.200 Motor vehicles 200,000 (charged as distribution expenses) 4. Accrued interest on loan was RM2,000. 5. Final preference share dividend and 2% final ordinary dividend are to be provided. 6. The tax expense for the year ended 31 December 2020 to be RM213,000. Required: Prepare the following statement in a form suitable for publication and in compliance with the Companies Act 2016 and related Malaysian Financial Reporting Standards (MFRS). a. The Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020 (10 marks) b. The Statement of Changes in Equity for the year ended 31 December 2020. (4 marks) c. The Statement of Financial Position as at 31 December 2020. (9 marks) d. Notes on Property, Plant and Equipment. (2 marks)