Zika Berhad has decided to dispose of a major division of its business. The related assets qualify to be classified as held for sale in the statement of financial position. The following summary draft statement of profit or loss and other comprehensive income has been prepared.

Zika Berhad

Statement of profit or loss and other comprehensive income

For the yar ended 31 December 2020

		RM (million)
Revenue		800
Cost of sales and expenses		(560)
Profit before tax		240
Tax		(115)
Profit after tax		125

The division being disposed of was a component of Zika Berhad and was a major line of business which is now ceasing permanently and in its entirety. The division contributed revenue of RM200 million, costs of RM275 million and a tax refund of RM15 million in the year ended 31 December 2020 (net loss RM60 million). These amounts are included in the above figures.

The assets to be sold have a combined fair value less costs to sell of RM39 million below their carrying value. This has not yet been recognised.

Required:

Show a new draft of the above Statement of profit or loss and other comprehensive income to account for the effect of the above event to comply with MFRS 5 5 Non-Current Assets Held for Sale and Discontinued Operation.

(6 Marks)