Tutorial 3 MFRS 101 1. Delima Bhd is a furniture company with a share capital of RM2,380,000, comprising 4,760,000 ordinary shares at 50 sen each. The following trial balance was extracted from the entity's books. Delima Bhd Trial balance as at 30 December 2022 RM'00 0 RM'00 0 Ordinary share capital 2,380 General reserve 260 Retained earnings - 1 January 2022 74 8% Debenture stock 250 Premises at cost 3,900 Accumulated depreciation -Premises 500 Plant and Machinery (P&M) at cost 820 Accumulated depreciation - P&M 320 Motor vehicles (MV) at cost 300 Accumulated depreciation - MV 80 Trade receivables 169 Trade payables 95 Bank 120 Sales 4,500 Sales returns 79 Inventory 1 January 2022 180 Purchases 2,400 Purchases returns 160 Administration expenses 450 Distribution expenses 340 Bank interest expense Interest received 60 35 Debenture interest 10 Interim ordinary dividend paid 66 8,774 8,774 Additional information: 1. Good purchased on 28 December 2022 for RM70,000 had not been accounted for or included in the physical inventory count at 31 December 2022. 2. Closing inventory as per the physical inventory count at 31 December 2022 was RM220,000. 3. Depreciation is to be charged as follows: Premises Plant and Machinery Motor vehicles 2% on cost 10% on cost 20% on cost 4. The company charges depreciation on premises and plant & machinery as administration expenses and motor vehicles as distribution expenses. 5. The charge for corporate tax for the year ended 31 December 2022 is estimated at 50% of the profit before tax. 6. A final dividend of 5 sen per share was paid to the ordinary shareholders on 31 December 2022, however this payment has not yet been recorded in the accounts. 7. Half year debenture interest is to be provided for. Required: In accordance with MFRS101 Preparation of financial statements, a) Prepare the statement of profit or loss and other comprehensive income for the year ended 31 December 2022. b) Prepare the statement of financial position as at 31 December 2022