TUTORIAL 1: 2.6 Juice and More Bhd has an issued and paid-up capital of RM90,000,000 comprising 45,000,000 ordinary shares, fully paid. It embarked on a share buyback scheme. The shareholders at the recent AGM passed an ordinary resolution to purchase 1,000,000 ordinary shares for immediate cancellation at a price of RM3,00 each. Below is the staternent of financial position of Juice and More Bhd before the shares were purchased. Juice and More Bhd Statement of Financial Position as at 31 December x8 Non-current assets Net current assets RM 80,000,000 30,000,000 110,000,000 Equity Issued share capital 45,000,000 ordinary shares, fully paid up Retained profits 90,000,000 20,000,000 110,000,000 Required: Show the journal entries to effect the above transaction and prepare the statement of financial position after the purchase is completed