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QUESTION 2 Dabong Bhd is a Malaysian-based public listed company with head quarter located in Dabong, Kelantan. The Company's business activities include manufacturing and

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QUESTION 2 Dabong Bhd is a Malaysian-based public listed company with head quarter located in Dabong, Kelantan. The Company's business activities include manufacturing and selling biscuit and beverages. Given below are the financial statement of the company for the year ended 31 December 2015: Dabong Bhd Statement of financial position as at 31 December Non-current assets Property, plant and equipment Investment property Development cost 3 2015 RM'000 2014 RM'000 16,100 180 10,250 250 1,850 1,100 Current assets Inventories 5,500 Trade receivables 1,500 2,600 900 Cash and cash equivalents 1,080 850 Tax recoverable 150 Nil Total assets 26,360 15,950 Equity: Ordinary share capital 9,500 7,000 Reserves 7,760 2,950 Non-current liabilities 10% Loan 2,000 Deferred tax 1,700 800 Environmental provision 3,300 Current liabilities 10% Loan Tax payable Trade payables Total equity and liabilities 2,000 1,500 2,100 1,700 26,360 15,950 Dabong Bhd Statement of profit or loss for the year ended 31 December 2015 Revenue Cost of sales Gross profit Distribution costs Administration expenses Finance costs Profit before taxation Income tax expense Profit for the year Additional information: RM'000 55,000 (32,400) 22,600 (7,800) (8,900) (1,050) 4,850 (650) 4,200 1. During the year the company disposed of an equipment with a carrying amount of RM1 million and was sold for RM750,000. The remaining movement on property, plant and equipment after charging depreciation of RM1.1 million was the cost of replacing plant. 2. The loss on disposal of equipment and the depreciation expense was charged to administrative expenses.

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