Question 7 The following balances were extracted from the books of Kopiko Sdn Bhd for the year ended 31 December 2018. RM'000 103,000 Retained profit 31 December 2017 39,000 Inventory 1 January 2018 550,000 Purchases 1,292,000 Sales 175,000 Share capital 116,000 Distribution expenses 241,000 Administration expenses 23,500 Bad debts 400,000 6% bonds (redeemable in Year 2020) 200,000 Trade receivables 73,500 Trade payables 6,000 Allowance for doubtful debts 12,000 Interest paid on bonds 58,000 Bank Dividends paid 105,000 Plant and machinery at cost 920,000 Accumulated depreciation as at 1 January 2018 215,000 Additional information: i. Inventory at 31 December 2018 was RM35,000. ii. Depreciation on plant and machinery for the Year Ended December 2018 is to be provided at the rate of 10% at cost. ii. Accrued distribution expenses amounted to RM7,500. iv. Prepaid administrative expenses amounted to RM4,000. The allowance for doubtful debts should be adjusted to 2 % of the trade receivables V. as at 31 December 2018. Company tax rate is estimated to be 20 % of the profit before tax. vi. Required: Prepare the Statement of Comprehensive Income for the year ended 31 December 2018 by adopting the function of expense or "cost of sales" method in accordance with MFRS 101 Presentation of Financial Statements: (Show workings where appropriate) bopiha Sn Bhd (25 marks) Question 7 The following balances were extracted from the books of Kopiko Sdn Bhd for the year ended 31 December 2018. RM'000 103,000 Retained profit 31 December 2017 39,000 Inventory 1 January 2018 550,000 Purchases 1,292,000 Sales 175,000 Share capital 116,000 Distribution expenses 241,000 Administration expenses 23,500 Bad debts 400,000 6% bonds (redeemable in Year 2020) 200,000 Trade receivables 73,500 Trade payables 6,000 Allowance for doubtful debts 12,000 Interest paid on bonds 58,000 Bank Dividends paid 105,000 Plant and machinery at cost 920,000 Accumulated depreciation as at 1 January 2018 215,000 Additional information: i. Inventory at 31 December 2018 was RM35,000. ii. Depreciation on plant and machinery for the Year Ended December 2018 is to be provided at the rate of 10% at cost. ii. Accrued distribution expenses amounted to RM7,500. iv. Prepaid administrative expenses amounted to RM4,000. The allowance for doubtful debts should be adjusted to 2 % of the trade receivables V. as at 31 December 2018. Company tax rate is estimated to be 20 % of the profit before tax. vi. Required: Prepare the Statement of Comprehensive Income for the year ended 31 December 2018 by adopting the function of expense or "cost of sales" method in accordance with MFRS 101 Presentation of Financial Statements: (Show workings where appropriate) bopiha Sn Bhd (25 marks)