The following balances were extracted from the books of the Emerald Bhd as at 30 June 2023: Aadinonal intormation: 1. As at 30 June 2023, the company has of 3,600,000 units ordinary shares and 1,800,000 units 5% preference shares. Out of the amount in issue, 800,000 shares were issued on 1 October 2022 and 300,000 were issued on 1 April 2023. 2. At the end of the financial year 2013, the land was revalued to RM2,800,000 and the company wishes to disclose the land at its fair value. The revaluation of the land had not Additional Information: 1. As at 30 June 2023, the company has of 3,600,000 units ordinary shares and 1,800,000 units 5% preference shares. Out of the amount in issue, 800,000 shares were issued on 1 October 2022 and 300,000 were issued on 1 April 2023. 2. At the end of the financial year 2013, the land was revalued to RM2,800,000 and the company wishes to disclose the land at its fair value. The revaluation of the land had not been accounted for and the company has no intention to sell the land within the next five years. For the depreciable assets, the depreciation for the year is to be provided as follows: Buildings 5% on cost Plant and machinery 10% on cost 3. On 1 January 2023, the company acquired 62,500 units of ordinary shares in Aman Bhd for RM250,000. Emerald Bhd was charged RM50,000 as commission fees. The shares were to be classified at fair value through profit or loss. On 30 June 2023, the fair value of the shares was RM400,000. 4. Emerald Bhd operates a funded defined benefit plan for its employees. As at 1 July 2022, the present value of the defined benefit obligation and the fair value of the plan assets were RM6,500,000 and RM7,820,000 respectively. The company has determined that the present value of future economic benefits on 1 July 2022 was RM1,000,000. For the year ended 30 June 2023 the following information is given: i. The discount rate that reflected yields of high-quality corporate bonds was 10%. ii. Based on actuarial valuation, the current service cost was RM300,000. iii. Past service costs amount to RM350,000. iv. Contributions paid to the fund for the year totaled RM200,000. v. Benefits paid to retired employees were RM750,000. vi. The expected return on plan assets for the year was 8%. As of 30 June 2023, the present value of the defined benefit obligation was RM9,640,000 and the fair value of the plan assets on this date was RM8,680,000. 5. Emerald Bhd entered into a cash-settled share-based payment contract to acquire equipment from Green Bhd. Emerald Bhd started negotiations to purchase the equipment on 1 October 2022. It was agreed on 30 November 2022 that the settlement for the acquisition allowed Emerald Bhd to pay for the equipment either in terms of cash equivalent to the market value of 100,000 ordinary shares or by the issue of 150,000 ordinary shares at market value. The equipment was delivered to Emerald Bhd on 1 February 2023, and the fair value of shares on that date was RM2.00 per share. Emerald Bhd received the equipment on 31 March 2023 when the fair value of Emerald Bhd's shares was RM1.80 per share. As of 30 April 2023, Green Bhd requested for cash settlement and the fair value of Emerald Bhd's shares on 30 April 2023 was RM1.50 per share. It is the policy of the company to depreciate its equipment using the straight-line method at 10% per annum on a yearly basis. This transaction has yet to be recorded by the company. For taxation purposes, the equipment is entitled to a 10% initial allowance and a 5% annual allowance. 6. On 1 July 2022, Emerald Bhd issued a debenture with a nominal value of RM1,000,000 for RM900,000 to raise funds for its new business expansion. Transaction costs concerning the acquisition are RM20,000. The instrument bears a 5% coupon, which is paid annually. The instrument matures in five years at the end of 2027 . The effective interest rate is 7%. 7. As at 30 June 2023 , taxable temporary differences and deductible temporary differences for all assets and liabilities in the statement of financial position (before adjustments) were RM7,000,000 and RM6,534,000 respectively. 8. At the end of the year, the company declared 5% preference shares. 9. The current and future tax is estimated to remain at 25% Required: Prepare the following financial statements in a form suitable for publication: b) Statement of changes in equity for the year ended 30 June 2023. The following balances were extracted from the books of the Emerald Bhd as at 30 June 2023: Aadinonal intormation: 1. As at 30 June 2023, the company has of 3,600,000 units ordinary shares and 1,800,000 units 5% preference shares. Out of the amount in issue, 800,000 shares were issued on 1 October 2022 and 300,000 were issued on 1 April 2023. 2. At the end of the financial year 2013, the land was revalued to RM2,800,000 and the company wishes to disclose the land at its fair value. The revaluation of the land had not Additional Information: 1. As at 30 June 2023, the company has of 3,600,000 units ordinary shares and 1,800,000 units 5% preference shares. Out of the amount in issue, 800,000 shares were issued on 1 October 2022 and 300,000 were issued on 1 April 2023. 2. At the end of the financial year 2013, the land was revalued to RM2,800,000 and the company wishes to disclose the land at its fair value. The revaluation of the land had not been accounted for and the company has no intention to sell the land within the next five years. For the depreciable assets, the depreciation for the year is to be provided as follows: Buildings 5% on cost Plant and machinery 10% on cost 3. On 1 January 2023, the company acquired 62,500 units of ordinary shares in Aman Bhd for RM250,000. Emerald Bhd was charged RM50,000 as commission fees. The shares were to be classified at fair value through profit or loss. On 30 June 2023, the fair value of the shares was RM400,000. 4. Emerald Bhd operates a funded defined benefit plan for its employees. As at 1 July 2022, the present value of the defined benefit obligation and the fair value of the plan assets were RM6,500,000 and RM7,820,000 respectively. The company has determined that the present value of future economic benefits on 1 July 2022 was RM1,000,000. For the year ended 30 June 2023 the following information is given: i. The discount rate that reflected yields of high-quality corporate bonds was 10%. ii. Based on actuarial valuation, the current service cost was RM300,000. iii. Past service costs amount to RM350,000. iv. Contributions paid to the fund for the year totaled RM200,000. v. Benefits paid to retired employees were RM750,000. vi. The expected return on plan assets for the year was 8%. As of 30 June 2023, the present value of the defined benefit obligation was RM9,640,000 and the fair value of the plan assets on this date was RM8,680,000. 5. Emerald Bhd entered into a cash-settled share-based payment contract to acquire equipment from Green Bhd. Emerald Bhd started negotiations to purchase the equipment on 1 October 2022. It was agreed on 30 November 2022 that the settlement for the acquisition allowed Emerald Bhd to pay for the equipment either in terms of cash equivalent to the market value of 100,000 ordinary shares or by the issue of 150,000 ordinary shares at market value. The equipment was delivered to Emerald Bhd on 1 February 2023, and the fair value of shares on that date was RM2.00 per share. Emerald Bhd received the equipment on 31 March 2023 when the fair value of Emerald Bhd's shares was RM1.80 per share. As of 30 April 2023, Green Bhd requested for cash settlement and the fair value of Emerald Bhd's shares on 30 April 2023 was RM1.50 per share. It is the policy of the company to depreciate its equipment using the straight-line method at 10% per annum on a yearly basis. This transaction has yet to be recorded by the company. For taxation purposes, the equipment is entitled to a 10% initial allowance and a 5% annual allowance. 6. On 1 July 2022, Emerald Bhd issued a debenture with a nominal value of RM1,000,000 for RM900,000 to raise funds for its new business expansion. Transaction costs concerning the acquisition are RM20,000. The instrument bears a 5% coupon, which is paid annually. The instrument matures in five years at the end of 2027 . The effective interest rate is 7%. 7. As at 30 June 2023 , taxable temporary differences and deductible temporary differences for all assets and liabilities in the statement of financial position (before adjustments) were RM7,000,000 and RM6,534,000 respectively. 8. At the end of the year, the company declared 5% preference shares. 9. The current and future tax is estimated to remain at 25% Required: Prepare the following financial statements in a form suitable for publication: b) Statement of changes in equity for the year ended 30 June 2023