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Prepare walley sopl for the year ended december

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Reference no: EM132962973

In February 20X4, Walley Corp decided to sell it's entire Plant division. The Plant division was a major part of Walley Corp's business and the sale will result in a strategic change in direction for the company.

Walley Corp's SOPL for year end 31 Dec 20X4 :
RM'000
Sales 10,000
Expenses 6,000
Net profit 4,000
Sale of Plant division was completed in the current year, resulting in a loss on disposal of RM0.5 million, which has not yet been recorded in above SOPL. The results of Plant division which were included in the above SOPL shows a net loss of RM1 million from sales of RM3million.

Required :

Problem 1: Prepare Walley's SOPL for the year ended 31 December 20X4 in accordance with IFRS 5

Reference no: EM132962973

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