Additional information:

• Salaries and wages are to be apportioned: Distribution 60% Admin 40%.
• Rent and rates are to be apportioned: Distribution 90% Admin 10%.
• Depreciation is to be provided at:
• 30% on equipment reducing balance method and
• motor vehicles over 5 years estimated useful life.
• Motor vehicle depreciation, motor expenses, and equipment depreciation expenses to be apportioned: Admin 30%, Distribution 70%.
• Provide for corporation tax $15,000,000.
• Land is non-depreciable and is to be revalued to 150,000,000 on 31 December 20X0.
• Inventory as at 31 December 20X0 was 64,800,000.

Required

1. a. Statement of Comprehensive Income for the year ended 31 December 20X0 in accordance with the requirements of the IAS. The workings for the distribution costs and administrative expenses are to be shown separately.
2. b. Calculate the earnings per share for the financial year ended 31 December 20X0.

The following information has been extracted from the trial balance of Itico Ltd as at 31 December 20X0: - Salaries and wages are to be apportioned: Distribution 60% Admin 40%. - Rent and rates are to be apportioned: Distribution 90% Admin 10%. - Depreciation is to be provided at: - 30% on equipment reducing balance method and - motor vehicles over 5 years estimated useful life. - Motor vehicle depreciation, motor expenses, and equipment depreciation expenses to be apportioned: Admin 30\%, Distribution 70\%. - Provide for corporation tax $15,000,000. - Land is non-depreciable and is to be revalued to 150,000,000 on 31 December 20X0. - Inventory as at 31 December 20X0 was 64,800,000