Preparation of a statement of financial position and statement of profit or loss and other comprehensive income   LO3, 4 The summarised general ledger trial balance of Ryan Ltd, a spare parts manufacturer, for the year ended 30 June 2019 is detailed below. Dr Cr Sales of goods $ 7 360 000 Share of profits of associates 36 000 Rent received 9 000 Other income 6 000 Cost of sales $ 4 978 000 Distribution expenses 143 000 Sales and marketing expenses 1 367 000 Administration expenses 420 000 Interest expense 74 000 Other borrowing expenses 6 000 Income tax expense 141 000 Cash at bank 20 000 Deposits (at call) 150 000 Trade debtors 740 000 Allowance for doubtful debts 24 000 Other debtors 154 000 Employee share plan loans 260 000 Raw materials inventories 53 000 Finished goods inventories 1 190 000 Investment in associates 375 000 Land and buildings 426 000 Accumulated depreciation — buildings 61 000 Plant and equipment 2 100 000 Accumulated depreciation — plant and equipment 940 000 Financial assets recognised at fair value through other comprehensive income 60 000 Goodwill 1 450 000 Bank loans 111 000 Other loans 810 000 Trade creditors 820 000 Provision for employee benefits 153 000 Provision for restructuring 62 000 Provision for warranty 40 000 Income tax payable 30 000 Deferred tax liability 100 000 Issued capital 2 920 000 Retained earnings, 1 July 2018 760 000 Dividends paid 150 000 Financial assets revaluation reserve 15 000 $14 257 000 $14 257 000 Additional information • Employee share plan loans receivable include $50 000 due within 1 year. • $25 000 of bank loans is repayable within 1 year. • $400 000 of other loans is repayable within 1 year. • Provision for employee benefits includes $110 000 payable within 1 year. • The planned restructuring is intended to be fully implemented within 1 year. • Provision for warranty is in respect of a 6-month warranty on certain goods sold. • The financial assets were acquired during the current year and were revalued by $23 000 at the end of the reporting period. The related income tax was $8000. • The financial assets are equity securities which the entity elected to recognise at fair value through other comprehensive income. The accumulated gain or loss will not be reclassified. • Ryan Ltd uses the single statement format for the statement of profit or loss and other comprehensive income and presents an analysis of expenses by function in the statement. Required Prepare the statement of financial position and statement of profit or loss and other comprehensive income of Ryan Ltd for the year ended 30 June 2019 in accordance with AASB 101/IAS 1, using statement captions that a listed company is likely to use.