Liabilities

Accounts payable $,(52,360)$

Equity

Share capital $500,000$

Retained earnings $,96,698$

$596,698$

Relevant exchange rates were as follows: Relevant exchange rates were as follows:

Sales, purchases, and expenses were earned and incurred evenly over the course of the financial year. The dividend was paid on $1$ June $2024,$ and the

inventory on hand at reporting date had been acquired evenly over the period of $1$ May to $30$ June $2024.$

The functional currency for Peninsula Group Holdings is the Malaysian Ringgit and its presentation currency is the Australian dollar.

Required:

Prepare the financial statements of Peninsula Group Holdings for the year ended $30$ June $2024$ in the presentation currency, in accordance with AASB

Notes:

The reconciliation note of the foreign currency translation reserve is not required.

Round uD all currencies to the nearest unit.Peninsula Group Holdings, founded on $1$ July $2023$ in Malaysia, operates primarily in Ringgit Malaysia $($RM$).$ This company, with an initial capital of

RM$550,000,$ is a wholly owned subsidiary of Outback Horizon Pty Ltd$,$ an Australian company based in Melbourne specialising in selling camping gear,

hiking equipment, and outdoor apparel for enthusiasts exploring the Australian outback.

After its first year of trading, Peninsula Group Holdings presented its financial statements as follows:

Peninsula Group Holdings

Statement of Profit or Loss and other Comprehensive Income

for the year ended $30$ June $2024$