A4-2 SFP/SCE Classification:

Dashall Ltd. has the following accounts in its year-end 20X7 trial balance:

Retained earnings.

Investment in shares of another company as a temporary use of cash to earn a return.

Deferred income tax asset.

Note payable for equipment, payable in equal instalments over two years.

Income tax payable.

U.S. deposit account held in a New York bank.

Inventory held in a bonded warehouse (i.e., protected against improper entry). The product needs to be aged for five years before being finished and released for sale.

Foreign currency translation gain on U.S. subsidiary.

Investment in the marketable equity securities of another company in which Dashall Ltd. has significant influence.

Decline in fair value of assets in a division that is being discontinued. A buyer for the division is actively being sought.

Required:

Explain how each item would be reported on Imposing Ltd.s 20X7 SFP and/or statement of changes in equity.