This is FAR570. Please help me.

Question 1 Nyaman Food and Beverages (F&B) Bhd is a public listed company, established in 2000. The company was incorporated in Malaysia, involved in manufacturing and distributing food and beverages. As at 31 December 2019, the company has 20,000,000 units of ordinary shares and 6,000,000 units of 5% non-cumulative preference shares. The following balances are for the year ended 31 December 2019. Note Dr Cr RM'000 RM'000 Sales 25,000 Cost of sales 11,800 Administration expenses 6,020 Selling and distribution expenses 1,200 Land (at revaluation) Buildings (at revaluation) - - 12,000 33,000 Equipment 25,000 Fixtures and fittings N N 1,640 Accumulated depreciation as at 1 January 2019: Buildings 1 5,500 Equipment 2 10,000 Fixtures and fittings 1,076 Investment properties 4,000 Intangible assets 794 Investments 3,200 Tax paid 8 277 Accounts receivable 2,320 Inventories 510 Bank 1,264 Ordinary shares 40.000 5% Non-cumulative preference shares 5,000 Retained profits 9,280 Revaluation reserve (land) 1,500 8% Convertible debentures 6 3,000 Defined benefit liability as at 1 January 2019 5 960 Deferred tax 312 Accounts payable 1,760 Accruals 427 Interim dividend 7 790 103,815 103,815 NThe following notes are related to the balances given above: 1. The land was revalued on 1 January 2019 at RM10,000,000. The change in fair value of the land has not been recorded by the company. The building was revalued five years ago at a deficit of RM500,000. The remaining useful life of the building at that time was 30 years. The building was revalued again on 31 December 2019 at RM27,000,000. The land is not depreciated. It is the policy of the company to adopt the revaluation model for land and building. 2. On 1 July 2019, Nyaman F&B Bhd acquired an equipment valued at RM600,000. The seller has agreed to accept payment either in cash or in shares. The seller can choose either to accept 320,000 shares to be issued in six months' time or to receive cash payment in three months' time equivalent to the market value of 300,000 shares. It is estimated that the share price will be RM2.00 in the September 2019 and RM2. 10 in December 2019. The price of Nyaman's shares on 1 July 2019 was RM1.75. Nyaman settled the acquisition by cash in September 2019. This transaction has not yet been recorded. The equipment has an expected useful life of 10 years, depreciated using straight line basis on yearly basis, and fixtures and fittings are depreciated at 10% on book value. For taxation purposes, the equipment is entitled to a 10% initial allowance and a 5% annual allowance. 3. The company adopted fair value model for its investment properties. The fair value as at 31 December 2019 was RM5,000,000. 4. The investment held by Nyaman F&B Bhd comprises of 1,000,000 ordinary shares in Blue IT Bhd which is measured at fair value through profit or loss. The shares were acquired by the company during the year. As at 31 December 2019, the fair value of one unit of Blue IT Bhd's ordinary shares was RM3.75. This value has yet to be reported in the company's financial statements. 5. The company operates a funded defined benefit retirement plan for its employees. The defined benefit liability as at 1 January 2019 was made up of the following RM Present value of obligations 5,130,000 Fair value of plan asset 2,250,000 The following transactions occurred during the year ended 31 December 2019, relates to the retirement plan. RM Current service cost 256,500 Contribution paid 316,500 Benefit paid 115,500 Average service life of employees 15 years 3The company used a rate of 7.5% that reflected the yield of corporate bonds issued by the bank for discounting purposes and as its expected rate of return from the plan asset. The fair value of the obligation and plan asset as at 31 December 2019 is estimated to be RM3,530,000 and RM2,610,000 respectively. 6. The 8% convertible debentures were issued on 1 July 2019 and are convertible into ordinary shares on the basis of 100 shares per RM50 debentures. None of the convertible debentures were converted as at 31 December 2019. The debenture interest is payable on 30 June 2020. 7. The interim dividend paid for the year included half year dividend for 5% non-cumulative preference shares. The company declared an ordinary dividend of 2.5% on 28 December 2019 which will be paid on 15 February 2020. 8. The tax paid is for current tax expense which the management estimated to be RM277,000. The taxable temporary differences and deductible temporary differences for asset and liabilities in the statement of financial position as at 31 December 2019 are RM2,780,000 and RM1,420,000 respectively. The temporary differences did not account for the purchase of new equipment during the year. 9. The income tax rate for 2019 is 24%. Required: Prepare the following financial statements in a form suitable for publication: a) Statement of profit or loss and other comprehensive income for the year 31 December 2019. (determine the basic earnings per share and diluted earnings per share) b) Statement of changes in equity for the year ended 31 December 2019. c) Statement of financial position as at 31 December 2019. Show all necessary workings. (Total: 80 marks) 4