3 question ( 40 marks). The following trial balance relates to A Co at 30 June 2019: (1) Property includes land at a cost of $30,000. The building is being depreciated on a reducing balance basis over its estimated useful economic life of 25 years. (2) Plant and equipment is being depreciated on the straight-line basis at a rate of 20% per annum. All depreciation is charged to cost of sales. (3) The directors have estimated the provision for income tax for the year to 30 June 2019 at $6.500. (4) Interest on loan is to be accrued in full (5) Land is to be revalued to $35,000. Required: Prepare the statement of profit or loss for A for the year to 30 June 2019 using the format in IAS 1 "Presentation of Financial Statements