Revision Question $3$

Presented below is the trial balance of TomSon Bhd$.$ as at $31$ December $2018.$

TomSon Bhd$.$

Trial Balance $31$ December $2018$

Purhase discounts: RM$10,000($credit$)$

Cash: RM$189,700($Debit$)$

Account Receivable: RM$105,000($Debit$)$

Rent Revenue: RM$18,000($Credit$)$

Retained Earnings: RM$160,000($Credit$)$

Salaries and Wages payable: RM$18,000($Credit$)$

Sales revenue: RM$1,100,000($Credit$)$

Notes Receivable: RM$110,000($Debit$)$

Account payable: RM$49,000($credit$)$

Accumulated Depreciation$-$equipment: RM$28,000($credit$)$

Sales discount: RM$14,500($debit$)$

Sales returns and allowances: RM$17,500($debit$)$

Notes Payable: RM$60,000($credit$)$

Selling expenses: RM$232,000($debit$)$

administrative expenses: RM$99,000($debit$)$

Share capital$-$ordinary: RM$300,000($credit$)$

Income tax expenses: RM$53,900($debit$)$

Cash dividends: RM$45,000($debit$)$

Allowances for doubtful accounts: RM$5,000($credit$)$

Supplies: RM$14,000($debit$)$

Freight$-$in: RM$20,000($debit$)$

Land: RM$70,000($debit$)$

Equipment: RM$140,000($debit$)$

Bond payable: RM$100,000($credit$)$

Gain on sale of land: RM$20,000($credit$)$

Accumulated depreciation$-$ buildings: RM$18,600($credit$)$

Inventory: RM$89,000($debit$)$

Buildings:RM$98,000($debit$)$

Revaluation of land and buildings: RM$21,000($credit$)$

Purchases: RM$610,000($debit$)$

Total debit & credit : RM$1,907,000$

$*$ A physical count of inventory on $31$ December $2018$ resulted in an inventory amount of RM$64,000.*$

Required:

Prepare the Statement of Profit or Loss and Other Comprehensive Income $($one statement format$)$ for TomSon Bhd$.$ for the year ended $31$ December $2018.$ It is suggested that you follow the format from the recent statement of profit or Loss and other Comprehensive income of any malaysian listed company.