Statement of profit or loss and other comprehensive income  LO4 The general ledger trial balance of Lachlan Ltd includes the following accounts at 30 June 2019.

(a) Sales revenue $1 200 000

(b) Interest income 24 000

(c) Gain on sale of plant 5 000

(d) Valuation gain on trading securities 20 000

(e) Dividend revenue 5 000

(f) Cost of sales 840 000 (g) Finance expenses 18 000 (h) Selling and distribution expenses 76 000 (i) Administrative expenses 35 000 (j) Income tax expense 85 000 Additional information • Lachlan recognised a loss on valuation of $1000 net of tax for financial assets at fair value through other comprehensive income. No financial assets were sold during the year. • A gain of $4000 net of tax was recognised on the revaluation of land. • Lachlan Ltd uses the single statement format for the statement of profit or loss and other comprehensive income. • Lachlan Ltd classifies expenses by function. Required Prepare the statement of profit or loss and other comprehensive income of Lachlan Ltd for the year ended 30 June 2019, showing the analysis of expenses in the statement.