66 000 HOHOE PRODUCTS LIMITED The following trial balance has been extracted from the books of Hohod Products Limited, at 31 March 2005 GHO GHO 000 Administrative expenses 210 Share capital (ordinary shares of GHe fully paid) 800 Trade receivables 470 Bank overdrant 80 Income tax (overprovision in 20X4) 25 Retirement benefitability 180 Distribution costs 420 560 Non-current asset investments Investment income 75 Plant and equipment 750 At cost 220 Accumulated depreciation (at 31 March 20X5) 240 Accumulated profit (at 1 April 20X4) Purchases 960 Inventories (at 1 April 20X4) 140 Trade payables 260 Revenue 1,950 Interim dividend paid 120 3,630 3,630 Additional information (1) Inventories at 31 March 20X5 were valued at GH150,000. (2) The following items are already included in the balances listed in the above trial balance Depreciation (for year to 31 March 2005) Hire of plant and machinery Auditors' remuneration Distribution Administrative costs expenses GH000 GH000 27 5 20 15 30 The income tax expense based on the profit on ordinary activities is estimated to be GH54,000 The retirement benefit liability is to be increased by GH16,000. The increase should be charged to administrative expenses. No retirement benefits are expected to be paid for the foreseeable future. Required Prepare the company's statement of comprehensive income for the year to 31 March 20X5 and a statement of financial position at that date in accordance with IAS 1 Presentation of Financial Statements. (20 marks)