2021 2020

Cash and Cash Equivalent 2,500 1,500

Inventory at year end 85,000 72,000

Receivables 6,500 10,500

Development Bond Issued 150,000 200,000

Accumulated surplus 264,986

Contribution from other

government entities 75,000 75,000

Contribution from non-controlling

Entities 25,000 25,000

Notes relating to 2021

1. The Accountant for PIA records the transaction on a cash basis. For the 2020 audit adjustments were made to reflect the basis required for ISPAS. The audit was completed for 2020, therefore, those figures are final. The 2021 figures are not yet finalized. 2. Dividends received included $4,200,000 relates to amounts receivable on 31 December 2020. Dividend receivable as of 31 December 2021 is $1,100,000. 3. PIA receives an annual transfer of $30,000,000 for the National Agricultural Association for the operating of the industry. 4. Service Charge Outstanding as at 31 December 2021 was $442,000. 5. Interest receivable on Loans to Members as at 31 December 2020 received in 2021 was $2,080,000. Interest receivable at 31 December 2021 was 5,000,000. 6. All membership fees were paid in full. Ten members prepaid their membership for 6 months at $12,000 per month. 7. Only 80% of the Grants Committed were received. The Grants are normally received on a quarterly basis. 8. To secure adequate storage in 2021, payments of 1,612,000 was made in advance. 9. All the surplus, except 25% which are for several associates, are returned to the National Agriculture Association. 10. Bond issued in 2020 was issued for 200,000,000. There was a repayment of $50,000 in 2021. 11. All statutory was paid at year end

Required:

Statement of Financial Performance, Statement of Financial Position and Cash flow for 2021 in line with ISAPS. Expenses should be classified by nature. No comparative data required for the Cashflow.

The young framers association controls 25\%. of PIf The young framers association controls 25\%. of PIf