The following information were extracted from Ikat Bhd as at $31$ December $2023.$

RM$000$ RM$000$

Retained profits as at $1$ January $202315,000$

Ordinary shares capital $385,000$

$10\%$ Debentures $50,000$

Land at cost $100\mathrm{.}000$

Buildings at cost $300,000$

Motor vehicle at cost $33,000$

Office equipment $20,000$

Accumulated depreciation $$Motor Vehicle $3,000$

Provision for doubtful debts $5,000$

Long term investments $10,000$

Cash and bank $17,000$

Inventory as at $1$ January $202330,000$

Accounts receivable and payable $44,00038,000$Carriage inwards $10,000$

Returns $10,0008,000$

Selling expenses $84,000$

Administrative expenses $95,000$

Debenture interest $3,000$

Sales and Purchases $351,000603,000$

TOTAL $1,107,0001,107,000$

Additional Information:

$$ Inventory as at $31$ December $2023$ RM$25,000,000.$

$$ Debts totalling RM$4,000,000$ were written off as bad debts, and the provision

for doubtful debts is to be maintained at $5\%$ of remaining debtors.

$$ Selling expenses of RM$3,000,000$ and administrative expenses of

RM$2,000,000$ were owing at $31$ December $2023.$

$$ Depreciation on :

Buildings at $2\%$ on cost

Motor Vehicle and office equipment at $10\%$ per annum on reducing

balance basis.

$$ The directors proposed to pay a dividend of $4\%$ on paid$-$up capital.

$..\mathrm{.}6/-$

$6$ BBM$206/03$

Required:

a$.$ Prepare a Statement of Comprehensive Income for the year ended $31$

December $2023.(24$ marks$)$

b$.$ Prepare a Statement of Financial Position as at $31$ December $2023.(16$ marks$)$