1.RecoinageLtdrecordedthefollowingoperationalincomeandexpensesfortheyear ending30 June 2015:

Revenue(Sales)$382,000

Costof Sales142,000

Commissionreceived20,000

Interestreceived8,000

Distributionexpenses35,000

Marketingexpenses20,000

Occupancyexpenses41,000

Administrationexpenses53,000

Otherexpenses22,000

Financecostexpenses10,000

Additionalinformation:

Share capitalat1 July 2014 was800,000 ordinarysharesof$ 1.00 each,fully paid

Thecompanyissued200,000 ordinaryshareson1 May2015 at$1.15each,fully paid

Administrationexpensesincluded:

Auditfees:

$6,000

Feesfor taxationservicespaidto the auditors:

$4,000

Depreciationof property,plant&equipment:

$12,000

Retainedearnings balance1 July 2014 (credit)

$122,000

General reservebalance1 July 2014

$10,000

Transferredduringtheyearto general reservefromretainedearnings

$15,000

AssetRevaluationReservebalance1 July 2014

$25,000

ThepreviousvaluationofLandandBuildingswas

$425,000

ArevaluationofLandandBuildingson30 June 2015 by the director

$445,000

Afullyfrankedinterimdividendof$0.02(2cents)perordinarysharewaspaidon15 March2015 for800,000 ordinaryshares

Thedirectorsdeclaredaproposedfinaldividendof$0,035(3.5cents)perordinaryshare, fully franked, on30 June 2015

Incometaxexpenseforthe yearis

$26,000

Franking creditsavailableat the endofthe yearwere

$18,225

Required:

a)PrepareStatementofComprehensiveIncomewithbothexpenses(classifiedby function)andrevenuesdisclosedonthe faceofthe statement.

b)PrepareaStatementofChangesinEquitydisclosingallmovementsonthe statement.

c)Preparethefollowingnotestosupporttheincomestatementandstatement ofchangesin equity:

i.Profit for the period

ii.Dividends

iii.Dividendfranking credit

Recoinage Ltd's Policy And Procedures Manual requires the use of the format/templates provided on the following pages.

NOTE: Prior year comparative figures are NOT required.

Statement of Comprehensive Income for theyear ended30 June2015

Revenue(sales)

Costofsales

Grossprofit

Otherincome

Distributionexpenses

Marketingexpenses

Occupancyexpenses

Administrativeexpenses

Otherexpenses

Financecosts

Profitbefore incometax

Incometaxexpense

Profitafter tax

OtherComprehensiveIncome

Gainonrevaluationofproperty

Incometaxonother comprehensiveincome

Totalothercomprehensiveincome

TotalComprehensiveIncome

Statementof changesinequity

For theyear ended30June2015

Reserves

ShareCapital

Totalequity

Retainedearnings

Generalreserve

Assetrevaluation reserve

Balance 1 July 2014

Total comprehensive income for the year

Dividends

Transfer to general reserve

Issue of share capital

Balance 30 June 2015

Profitfor theperiod

Profit hasbeendeterminedaftercharging/creditingthe followingitems:

Dividendspaidor declared:

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Dividend franking account:

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