QUESTION 2 (25 MARKS) The following data of financial statement and tax bases of at 31 December 2019 of Ciku Bhd: Land Building Plant and Equipment Inventory Trade Receivable Bank Trade Payable 10% Loan Provision for Deferred Tax Liability 01.01.2019 Revaluation Reserve - Land Revaluation Reserve - Plant and Equipment Share Capital Retained Earnings Carrying Amount RM'000 15,000 67,000 104,000 13,000 5,400 12,000 9,000 10,000 Tax Base RM'000 10,000 15,000 56,000 13,000 6,000 12,000 9,000 11,000 8,100 8,100 5,000 30,000 70,000 104,300 70,000 13.900 Additional information: 1. On 31 December 2019, Ciku Bhd revalued land and some of the plant. Fair value of the land and plant were RM5 million and RM30 million respectively, more than its carrying amount. 2. Ciku Bhd provides for general provision for doubtful debts of 10%. Tax rule recognises bad debts only. 3. Ciku Bhd raised a loan during the year and recorded it net of transaction costs. The transaction costs are allowable for tax in the year in which the loan is raised. 4. Income tax had changed from 30% to 25%. 5. Real property gain tax is 5%. Required: a) Calculate the deferred tax expense for Ciku Bhd for the year. (20 marks) (CLOI:PLO1:C3) b) Prepare the extract of Statement of Financial Position of Ciku Bhd for the year ended 31 December 2019. (5 marks) (CLOI PLOT:C4)