Question $1$

BWE Sdn$.$ Bhd$.$ has been in business for three years. It closes its accounts on $30$ June each year. Below is the company's unadjusted trial balance as at $30$ June $2023$:

$\backslash$table$[[,$Note,Debit RM$,$Credit RM$],[$Property$,$ plant and equipment $($PPE$),1,2,250,000,],[$Accumulated depreciation of PPE,$1,,455,000],[$Inventories$,2,368,700,],[$Trade receivables,$3,331,000,],[$Allowance for credit losses,$4,,14,600],[$Cash and cash equivalents,,$382,200,],[$Trade payables,,,$299,100],[6\%$ Note payable,$5,,80,000],[$Loan from bank,,,$500,000],[$Unearned revenue,$6,,58,500],[$Prepaid expenses,$7,50,500,],[$Sales revenue,,,$2,644,900],[$Cost of sales,,$777,500,],[$Administrative expenses,,$655,400,],[$Distribution expenses,,$383,400,],[$Finance costs,,$22,900,],[$Income tax expense,,$58,700,],[$Ordinary share capital,$8,,800,000],[$Retained earnings,,,$428,200],[,,5,280,300,5,280,300]]$

Notes to the account:

Included in property, plant and equipment $($PPE$)$ is freehold land of RM$1\mathrm{.}5$ million. The freehold land is not depreciated but revalued at its fair value. At the end of financial year $2022,$ the freehold land was revalued to RM$1\mathrm{.}7$ million.

Other PPE are measured at cost less accumulated depreciation. The company's policy is to depreciate other PPE at $20\%$ using reducing balance method, with zero residual value.

$2.$ The inventory on account is RM$345,000.$

After various attempts to collect overdue receivables, the company decided to write$-$off RM$21,000$ of the trade receivables.

Allowance for credit losses is expected to be $5\%$ of the remaining trade receivables.

The interest expense on the note payable for the year is due on $30$ June $2023.$ No payment has been made yet. Any interest expense is recognised as finance costs.

RM$25,000$ of the unearned revenue has been earned.

Prepaid expenses included security services payment for a period of twelve months commencing $1$ January $2023.$ Security services is recognised as part of administrative expenses.

Ordinary dividend approved and declared during the year is RM$75,000.$ Payment will be made in September $2023.$

Required:

Prepare the following financial statements:

$($a$)$ Statement of Profit or Loss and Other Comprehensive Income for the year ended $30$ June $2023$

$($b$)$ Statement of Changes in Equity for the year ended $30$ June $2023$

$($c$)$ Statement of Financial Position as at $30$ June $2023$

Note: Show all necessary workings.