The trial balance at 30 June 2017 for Comforte Berhad is as follows: Dr Cr RM'000 RM'000 Ordinary shares 20,000 5% preference shares 5,000 8% debentures 2,800 Freehold property at cost 26,000 Motor vehicles at cost 6,500 Equipments at cost 12,000 Accumulated depreciation at 1 July 2016: - Motor vehicles 600 - Equipments 7,000 Retained earnings 750 Interest expense 120 Interim dividends: - Ordinary shares 1,500 - Preference shares 120 Inventory 2,000 Prepaid insurance 1.800 Trade receivables 6,000 Trade payables 4,400 Bank overdraft 2,020 Cash 50 Purchases 17,700 Sales 54,900 Provision for doubtful debts 100 General reserve 820 Salaries and wages 19,000 Rent 1,000 Utilities 1,300 Insurance 600 Directors' emoluments 700 Distribution expenses 1,200 General administrative expenses 800 98,390 98,390 Additional information: Inventory at 30 June 2017 was RM1,000,000 An electricity bill for RM100,000 for June 2017 has not been recorded and will not be paid until next month. The prepaid insurance is the annual premium for insurance commencing 1 January 2017 Salaries of RM1,500,000 are owed at 30 June 2017 During the year, equipment costing RM1,200,000 with book value of RM800,000 was sold at RM750,000. The company's policy on depreciation of non-current assets are as following: Motor vehicles 20% on reducing balance Equipment 10% on cost of assets at year end Provisions are to be made for: Debenture interest due Preference dividends due Doubtful debts at 2.5% of the trade receivables at the end of the year. In May 2017, the company issued 3,000,000 shares at a price of RM3.50 per share. All monies were collected by June. However, no transaction has been recorded yet. The tax expense for the year was finalized at RM1,300,000. Transfer to deferred tax was RM120,000. The authorized capital consisted of the following: Ordinary shares RM50,000,000 5% Preference shares RM15,000,000 Required: Prepare the following financial statements for Comforte Berhad: (i) Statement of Profit or Loss for the year ended 30 June 2017. (15 marks) Statement of Financial Position as at 30 June 2017. (17 marks)