Karya Berjaya Berhad

Statement of Profit or Loss and Other Comprehensive Income

For the year ended 31 December 2017

RM

1 Sales revenue 934,675

(-) Sales discount (2,100)
Sales returns and allowance (490) (2,590)
Net sales 932,085
2 (-) COGS (356,730)
Gross profit 575,355
3 (-) Expenses
Depreciation expenses- building (3,240)
Depreciation expenses – equipment (2,500)
Bad debt expenses (300)
Maintenance and repair expenses (4,980)
Office expenses (4,809)
Sales commission (760)
Travel expense (300)
Salary and wages (10,556) (27,445)

4 Other income & expenses:

Rental revenue 24,000
Property tax expense (700)
Gain on sale of land 45,650 68,950

5 Finance cost XXXXXX

Profit before tax 616,860
6 Income tax expense (34,900)
Profit from continued operations 581,960

7 Discontinued Operation:
Profit from discontinued operations XXXXXX
Net Profit for the financial year 581,960

Other comprehensive income:

Gain on revaluation of properties 12,350
Translation of foreign operations 2,450 14,800
Total comprehensive income for the year 596,760

1
b)

Karya Berjaya Berhad

Statement of Financial Position
As at 31 December 2017
Assets:
Current assets:
Cash 547,610 + 1500 + 554,610
5500
Account receivable 45,691
(-) Allowance for doubtful debts (300) 45,391
Inventory 229,979 – 1,500 228,479
Prepaid insurance 110,222
Total current assets 938,702
Non-Current assets:
Building 571,950
(-) accumulated depreciation (10,500) 561,450
Equipment 210,000
(-) Accumulated depreciation (4,915) 205,085
Goodwill 25,115
Land 67,000
Total non-current assets 858,650
TOTAL ASSETS: 1,797,352
Liabilities:
Current liabilities
Account payable 15,390
Bonds payable 75,225
Unearned service revenue 5,500
Notes payable 20,250
Total current liabilities 116,365
Non-Current liabilities:
Bonds payable 175,525
Notes payable 60,750
Total non-current liabilities 557,475
Total liabilities 673,840
Equity:
Retained earnings (380,300+581,960) 962,260
Share capital 115,402
Reserve (352,250+14,800) 367,050

TOTAL Liabilities & Equities 1,797,352