62. Preparation of internal and published financial statements Required: Prepare for the year ended 30 June 20x6 the statement of comprehensive income changes in equity and statement of financial position. * Question 3 Basalt plc is a wholesaler. The following is its trial balance as at 31 December 20X0. Dr 000 GE00 Ordinary share capital: l shares Share premium General reserve Retained earnings as at January 20X0 Inventory as at January 20X0 Sales Purchases Administrative costs Distribution costs Plant and machinery-cost Plant and machinery-provision for depreciation Returns outwards Returns inwards Carriage inwards Warehouse wages Salesmen's salaries Administrative wages and salaries Hire of motor vehicles Directors' remuneration Rent receivable Trade receivables Cash at bank Trade payables The following additional information is supplied Depreciate plant and machinery 20% on straight-line basis Inventory at 31 December 20X0 is 90,000. (m) Accrue auditors' remuneration 22.000. () Income tax for the year will be 58.000 payable October 20XI. It is estimated that 7/11 of the plant and machinery is used in connection with distribution remainder for administration. The motor vehicle costs should be allocated to distribution Required: Prepare a statement of income and statement of financial position in a form that complies wir No notes to the accounts are required. a form that complies with AS