The following are the Statements of Comprehensive Income of Melon Bhd, and Dewina Bhd. as at 31 December 2020: beginning of the year, inventory balance of Dewina Bhd. reported at RM5,000,000. However only 25% were acquired from Melon Bhd. (iii) Melon Bhd. RM Dewina Bhd. RM On 2020, RM80,000,000 of Dewina Bhd.'s sales were made to Melon Bhd. The goods cost Dewina Bhd. RM60,606,061. RM10,100,000 of the goods purchased from Dewina Bhd. still remain as closing inventory of Melon Bhd. Reported at the beginning of the year, inventories of Melon Bhd. was RM4,000,000. Only half of the inventories were acquired from Dewina Bhd. Sales 507,670,000 270,500,000 Cost of sales (iv) Melon Bhd. charged Dewina Bhd. shared administration and advertisement cost in the year 2020 as stated below: Gross profit Operating expenses Operating profit Other income Dividends from investment Finance cost Profit before tax Taxation (256,500,000) (88,270,000) 251,172000 182230,000 (13,565,000) (35,100,000) 237,605000 147,139000 1,000,000 5,100,000 5,980,000 1,300,000 (500,000) (100,000) 244,085,000 153,430000 (10,000,500) (28,005,000) 234,084,500 125,425,000 Description of charges Administration Advertisement Total charges (RM) 4,500 monthly 3.000 per quarter Profit after tax (v) Dividend paid to shareholders by Melon Bhd. and Dewina Bhd. are as follows: Melon Bhd. RM 25,750,000 Dewina Bhd. RM 29,100,000 Melon Bhd. Dewina Bhd. RM2,500,000 RM3,800,000 3% Retained profit 1 January 2020 Dividend paid by: Ordinary shares 5% cumulative preference shares 4% non cumulative preference shares Additional information: 2% (0) Melon Bhd was established on 1 September 2018 with paid up capital consist of 26,000,000 ordinary shares and 10,500,000 5% cumulative preference shares. 3. Required to prepare from the information provided above (Note: Show all workings) Melon Bhd bought 10,530,000 ordinary shares and 1,100,000 preference shares of Dewina Bhd. on 1 January 2019. At the point of acquisition the retained profit of Dewina Bhd is RM12,000,000. Consolidated Statement of Comprehensive Income for Melon Bhd. for the year ended 31 December 2020 (up to profit after tax only). The paid up capital of Dewina Bhd. is made up of 13,000,000 units ordinary shares and RM5,000,000 4% non-cumulative preference shares Required to prepare (a) Profit attributable to parent and non-controlling interest (10 marks) (b) (i) During the current year, Melon Bhd sold inventory costing RM133,450,704 for RM189,500,000 to Dewina Bhd. One-quarter of the purchases remain in the closing inventory of Dewina Bhd. At the Extract of Statement of Changes in Equity for the year ended 31 December 2020. (15 marks) The following are the Statements of Comprehensive Income of Melon Bhd, and Dewina Bhd. as at 31 December 2020: beginning of the year, inventory balance of Dewina Bhd. reported at RM5,000,000. However only 25% were acquired from Melon Bhd. (iii) Melon Bhd. RM Dewina Bhd. RM On 2020, RM80,000,000 of Dewina Bhd.'s sales were made to Melon Bhd. The goods cost Dewina Bhd. RM60,606,061. RM10,100,000 of the goods purchased from Dewina Bhd. still remain as closing inventory of Melon Bhd. Reported at the beginning of the year, inventories of Melon Bhd. was RM4,000,000. Only half of the inventories were acquired from Dewina Bhd. Sales 507,670,000 270,500,000 Cost of sales (iv) Melon Bhd. charged Dewina Bhd. shared administration and advertisement cost in the year 2020 as stated below: Gross profit Operating expenses Operating profit Other income Dividends from investment Finance cost Profit before tax Taxation (256,500,000) (88,270,000) 251,172000 182230,000 (13,565,000) (35,100,000) 237,605000 147,139000 1,000,000 5,100,000 5,980,000 1,300,000 (500,000) (100,000) 244,085,000 153,430000 (10,000,500) (28,005,000) 234,084,500 125,425,000 Description of charges Administration Advertisement Total charges (RM) 4,500 monthly 3.000 per quarter Profit after tax (v) Dividend paid to shareholders by Melon Bhd. and Dewina Bhd. are as follows: Melon Bhd. RM 25,750,000 Dewina Bhd. RM 29,100,000 Melon Bhd. Dewina Bhd. RM2,500,000 RM3,800,000 3% Retained profit 1 January 2020 Dividend paid by: Ordinary shares 5% cumulative preference shares 4% non cumulative preference shares Additional information: 2% (0) Melon Bhd was established on 1 September 2018 with paid up capital consist of 26,000,000 ordinary shares and 10,500,000 5% cumulative preference shares. 3. Required to prepare from the information provided above (Note: Show all workings) Melon Bhd bought 10,530,000 ordinary shares and 1,100,000 preference shares of Dewina Bhd. on 1 January 2019. At the point of acquisition the retained profit of Dewina Bhd is RM12,000,000. Consolidated Statement of Comprehensive Income for Melon Bhd. for the year ended 31 December 2020 (up to profit after tax only). The paid up capital of Dewina Bhd. is made up of 13,000,000 units ordinary shares and RM5,000,000 4% non-cumulative preference shares Required to prepare (a) Profit attributable to parent and non-controlling interest (10 marks) (b) (i) During the current year, Melon Bhd sold inventory costing RM133,450,704 for RM189,500,000 to Dewina Bhd. One-quarter of the purchases remain in the closing inventory of Dewina Bhd. At the Extract of Statement of Changes in Equity for the year ended 31 December 2020. (15 marks)