Question: Please help me i will give good rating The summarized financial statements for the year ended 31 December 2021 for Rose Bhd. and Lily Bhd.

Please help me i will give good rating

Please help me i will give good rating The summarized financial statements

for the year ended 31 December 2021 for Rose Bhd. and Lily

The summarized financial statements for the year ended 31 December 2021 for Rose Bhd. and Lily Bhd. are as follows: (1) Statements of profit or loss for the year ended 31 December 2021 Rose Bhd. Lily Bhd. (RM'000) (RM'000) Sales 18 000 10 000 Cost of sales (10 800) (6 000) Gross profit 7 200 4 000 Operating expenses (960) (480) Interest on loan (850) (750) Profit before taxation 5 390 2 770 Taxation (1 340) (690) Profit after taxation 4 050 2 080 Dividends paid 930 (11) Statements of financial position as at 31 December 2021 Rose Bhd. (RM'000) Non-current assets Plant, property and equipment 30 000 Investment in Lily Bhd., at cost 61 000 Lily Bhd. (RM'000) 10 000 Current assets Inventories Accounts receivables Bank balances 20 000 2 160 90 000 203 160 10 000 1 800 70 500 92 300 166 000 18 000 60 000 16 800 Equity Share capital Retained profits Non-current liabilities Loan, 5% interest Current liabilities Accounts payables 17 000 15 000 2 160 203 160 500 92 300 Additional information: (1) Rose Bhd. and Lily Bhd. have 166 million and 60 million ordinary shares in issue respectively as at 31 December 2021. No new issues had been made since their dates of incorporation. (11) Rose Bhd.'s investment in Lily Bhd. was acquired as follows: Date of Interest Cost of investment acquisition acquired (RM'000) 1 January 2019 60% 61 000 (111) The retained profits of Lily Bhd. on 1 January 2019 were RM10 600 000. (iv) It is the group's policy to value the non-controlling interest (NCI) at its share of net assets. Required: Prepare the consolidated financial statements of Rose Bhd. and its group for the year ended 31 December 2021

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