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Financial Accounting: The Trial Balance

I need help in obtaining the answer for part (b) Statement of Profit or Loss and part (c) Statement of Changes in Equity. Parts (a) and (d) are not required


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The Trial Balance of Hong Ann Sdn Bhd as at 31 December 2019 is given below. Hong Ann Sdn. Bhd. Trial Balance as at 31 December 2019 Debit Credit RM'000 RM'000 Accumulated Depreciation: Buildings NCA 15,000 Furniture and Fittings 2,500 Motor Vehicles 5,000 Accounts Payable 10,000 Accounts Receivable 27,475 General Expenses 14,825 Staff Salaries: Sales and Distribution Department 5,950 Administrative Department 17,500 Delivery Expenses 3,500 Bank Overdraft 3,500 Buildings 150,000 Long-Term Mortgage Payable 100,000 Interest from Investments 8,750 Freight Inwards 750 Commission to Distributor 500 Furniture and Fittings at Cost 12,500 Directors' Fees 1,000 Interest on Mortgage and Bank Overdraft 3,500 Inventory as at 1 January 2019 75,000 Investment 150,000 Land at Cost 51,000 Motor Vehicles at Cost 50,000 Purchases 59,250 Retained Earnings 23,000 Sales 120,000 Share Capital 335,000 622,750 622,750

The following have yet to be recorded by the company on 31 December 2019. (1) Inventory as at 31 December 2019 amounting to RM80,000,000 (2) Accrued expenses comprised of: RM'OOO Staff salaries — sales and distribution department 500 Interest on mortgage and bank overdraft 150 (3) Prepaid general expenses as at 31 December 2019 amounting to RM75,000 (4) Provision for depreciation for 2019: Buildings — 5% on cost Motor vehicles - 20% on cost Furniture and fittings — 10% on cost (5) Income tax expenses for the year amounting to RM4,500,000 (6) The directors declared a final year dividend of RM1,500,000 on 20 December 2019. An interim dividend of RM1,500,000 was paid during the year and was debited to the retained earnings account. (7) On 28 December 2019, the company issued 2,000,000 ordinary shares of RM1 each for cash. (a) Prepare journal entries to record the relevant adjustments. (b) Prepare a Statement of Profit or Loss for the year ended 31 December 2019. (C) ( Prepare a Statement of Changes in Equity for the year ended 31 December 2019. d) Prepare a Statement of Financial Position as at 31 December 2019.

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The Trial Balance of Hong Ann Sdn Bhd as at 31 December 2019 is given below. Hong Ann Sdn. Trial Balance as at 31 December 2019 Debit Credit RM'000...
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