READ THE INSTRUCTIONS ABOVE CAREFULY Section A: Answer ALL questions (35 marks) 1. The table below shows the Trial Balance for Alexis Sdn Bhd for the year ended 31 March 2020. Notes RM'000 11,000 RM'000 5,000 800 4,500 250 5,000 Cost of Sales and Sales Current Assets Operating costs Interest and other finance charges Non-Current Assets Current Liabilities Ordinary Share Capital (1 Shares) Share premium Revaluation reserve Non-Current Liabilities Retained earnings Ordinary Dividends paid 750 500 650 300 2,000 450 100 15,650 15,650 The following notes are also relevant: 1. The tax charge for the current year is likely to be around RM250,000. Included in current liabilities is an amount of RM40,000 which represents an overprovision for tax in the previous year. 2. In January 2019 Alexis bought inventory on credit from a supplier for $82,000. The exchange rate at the date of the purchase was $2.20; RM1 and this was the rate at which the transaction was included in the accounts. The full amount is still outstanding. Assume the exchange rate at the 31 March 2020 was $2.00:RM1. 3. On 1 April 2019, the company entered into an agreement to lease some new machinery over a period of 4 years. The useful life of the machinery is expected to be 4 years, with no residual value at the end of that period. The cash price of the machinery would have been RM380,000. The lease agreement specifies that Alexis will make four annual lease payments, of RM100,000 each, on 31 March each year. The first lease payment has been recorded as an operating expense in the accounts but no other entries have been made. Assume the finance charge and depreciation is allocated on a straight line basis. 4. Non-Current Assets includes land shown at an amount of RM1 million as at 31 March 2020. The value of the land at 31 March 2020 is RM1.5 million and the directors would like this value reflected in the financial statements. Requirements: Prepare the following statements for Alexis Sdn Bhd for the year ended 31 March 2020. You are not required to prepare notes to the financial statements, but you should show all your workings. a) Total Comprehensive Income. (9 marks) b) Changes in Equity (6 marks) c) Financial Position. (15 marks) d) The annual report includes much more than just the core financial statements and accompanying notes to the accounts. Briefly outline the purpose of the strategic report in the annual report. (5 marks) Total: 35 marks Word limit: 150 words