62. Preparation of internal and published financial statements Required Prepare for the year ended 30 June 20x6 the statement of comprehensive incon changes in equity and statement of financial portion Question 3 Basalt pic is a wholesaler. The folowing is its trial balance as at 31 December 200 Dr 2000 Ordinary share capital i stares Shure premium General reserve Retained earnings as at laruary 2010 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 vehides Directors' remuneration Rent receivable Trade receivables Cash at bank Trade payables 326 1,500 The following additional information is suppliect Depreciate plant and machinery 20% on straight-ine basis. Inventory at 31 December 20XD is 90,000 ) Accrue auditors' remuneration 2.000. (1) Income tax for the year wil be 58.000 payable October 20X1. (v) it is estimated that 7/11 of the plant and machinery is used in connection with distribution with 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 No notes to the accounts are required. a form that complies with 1 L