341.750 The following is the trial balance of MacEform and Son Limited, dealers in Oracle Software, as at 31 December, 2018 Ghid GH Purchases and Sales 40.00 Ordinary shares (GHICI per share) 21. Retained Revaluation Reserve 10,000 Trade Receivables and Payables 159.000 $1,000 inventory 99,000 Land and building cost) 135 000 Delivery Vans: (cost) 105.50 Accumulated depreciation (3) December 2015 32.500 Plant and Ecument) 90.000 Accumulated depreciation (31 Dec 2015) 17.500 Administrative 26.000 Selling and Distribution 27.500 Investment property 100.000 Investment income (ahal athanaalerts 22.000 Dividend paid 1.754 Provision for doubtful debts 14,000 Bad debes 17.500 Suspense 70,000 1.09.2008 11,027.000 Additional information available is given below: 1) The inventory at cost on 31 December, 2018 was valued at GH137,500 and the net realizable value was GH129,500. 2) Allowance for doubtful debt is to be increased to GH19,080 as at 31 December 2018 3) An amount of GH6,000 in respect of rent and rates is included in administrative expenses. This amount relates to 2018 financial year 4) Depreciation for the year ended 31" December 2018 is to be calculated using the following rates: Plant and equipment 10% on cost Delivery Vans 15% on cost 5) To reflect a marked increase in property prices, Kwei Limited accepted the report of an independent surveyor who valued the land and building up by GH15,000 on that on 31 December 2018 1) The audit fee of GH1,000 is to be accrued. 2) The suspense account represents the corresponding credit for cash received for a fully subscribed issue of equity shares made on 30 December 2018. The terms of the share issue was 35,000 new ordinary shares were issued at GH2 each. 3) The directors have estimated the provision for income tax for the year ended 31" December 2018 at GH15,000. Required: In compliance with the Companies' Code provisions and in conformity with relevant International Financial Reporting Standards, prepare; (1) the statement of profit or loss and other comprehensive income for the year ended 31" December, 2018. (ii) the statement of financial position as at 31" December, 2018