Yummy Bhd is a public listed company, established in 2000. As at 31 December 2022, the company has 20,000,000 units of ordinary shares and 5,000,000 units of 5% non-cumulative preference shares. The following balances are for the year ended 31 December 2022: 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) 1 12,000 Buildings (at revaluation) 1 33,000 Equipment 2 25,000 Fixtures and fittings 2 1,640 Accumulated depreciation as at 1 January 2022: Buildings 1 5,500 Equipment 2 10,000 Fixtures and fittings 2 1,076 Investment properties 3 4,000 Intangible assets 794 Investments 4 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 2022 5 960 Deferred tax 312 Accounts payable 1,760 Accruals 427 Interim dividend 7 790 103,815 103,815

The following notes are related to the balances given above: 1. The land was revalued on 1 January 2022 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 2022 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 2022, Yummy 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 2022 and RM2.10 in December 2022. The price of Yummys shares on 1 July 2022 was RM1.75. Yummy settled the acquisition by cash in September 2022. 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 2022 was RM5,000,000. 4. The investment held by Yummy 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 2022, the fair value of one unit of Blue IT Bhds ordinary shares was RM3.75. This value has yet to be reported in the companys financial statements. 5. The company operates a funded defined benefit retirement plan for its employees. The defined benefit liability as at 1 January 2022 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 2022, 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

The 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 2022 is estimated to be RM3,530,000 and RM2,610,000 respectively. 6. The 8% convertible debentures were issued on 1 July 2022 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 2022. 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 2022 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 2022 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 2022 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 2022 (determine the basic earnings per share and diluted earnings per share) b) Statement of changes in equity for the year ended 31 December 2022. c) Statement of financial position as at 31 December 2022.