'77, 7,7, The trial balance of Beta Limited as at 3 15! December, 2016 is as follows: Debit Credit GH GH Sales and Purchases 20,000 50,000 Inventory 8,000 Distribution costs 8,000 Administration expenses 15,550 Trade Receivables and Payables 12,400 20,000 Cash and bank 8,100 Ordinary shares (GH0.50) 52,000 Revaluation reserve 8,000 10% Redeemable preference shares (GH I) 9,000 10% Loan Notes 8,000 Property, Plant and Equipment 75,000 Investment property 10,000 Rental income from investment property 1,000 Retained prots at 15' January, 2016 3,000 Loan note interest 400 Preference dividend 450 Interim ordinary dividend 1,600 Corporate Tax 500 Suspense 8,000 159,500 1 9 00 The following is to be taken into account: 1. The inventory at cost on 3 15' December, 2016 was GH14,500and the net realizable value was GH12,000. The Property, Plant and Equipment include a building whose net book value is currently GH5,000 is to be revalued to GH9,000. The balance on the corporation tax account represents an overprovision of tax for the previous year. Tax for the current year is estimated at GH3,000. The directors have decided to make an allowance for doubtful debts of 2% of trade receivables. This amount should be charged to administrative expense. Depreciation charges for the year ended 31\" December 2016 amounted to GH800. This gure should be included in the administrative expense. The investment property was acquired in January, 2016. The rental income from the investment property GH1,000 relates to the two-year period ending 31'1 December, 2017. The company adopts fair value model in subsequent measurement of the investment property and fair value assessment at 31s: December, 2016 puts the valuation at GH 15,000. The suspense account represents the corresponding credit for cash received for a fully subscribed issue of ordinary shares made on 30'h December, 2016. The terms of the share issue was 4,000 new ordinary shares were issued at GH2.00 each. Required: In compliance with the Companies' Code provisions and in conformity with relevant International Financial Reporting Standards, prepare for publication; (0 the statement of profit or loss and other comprehensive income for the year ended 31\" December, 2016. the statement of changes in equity for the year ended 3 15' December, 2016. the statement of financial position as at 3 1\" December, 2016