Additional information

1. Sales, purchases, and expenses were occurred evenly throughout the period.

2. Closing inventory on 30 June 2041 was $796,000 and was acquired during June 2041.

3. Land was acquired by ATL on 1 October 2040 for $1,200,000.

4. New motor vehicles were delivered and paid for on 1 April 2041 for $760,000. Each motor vehicle has a useful life of ten years, with no residual value. ATL use straight-line method for all motor vehicles.

5. New machinery assets were delivered and paid for on 31 December 2040 for $912,000. The machinery assets have a useful life of eight years, with no residual value. ATL use straight-line method for all machinery.

6. The interim dividend was paid on 31 December 2040

7. The dividend payable was declared on 30 June 2041

8. ATL borrowed Euro $2,400,000 on 1 October 2040 at an interest rate of 8% per annum, with interest payments at the end of each half-year (i.e., 31 December and 30 June).

Prepare:

1. A statement of Profit or Loss

2. A statement of Changes in Equity

3. A statement of Financial Position

Y/E 30/06/41 Debit Credit 1,452,000 1,152,000 564,000 2,900,000 6,992,000 904,000 5,472,000 960,000 572,000 732,000 736,000 2,400,000 1,472,000 11,090,000 368,000 736,000 12,160,000 6,564,000 304,000 380,000 144,000 2,166,000 688,000 30,454,000 30,454,000 Y/E 30/6/40 Debit Credit 312,000 958,000 412,000 1,700,000 6,232,000 600,000 4,560,000 580,000 572,000 528,000 628,000 Cash Accounts receivable Inventory (Opening balance) Land Motor Vehicles Accum. Depn. - Motor Vehicles Machinery Accum. Depn. - Machinery Trademarks Accounts payable Dividends Payable Loan from Bank of Naples Ltd Share capital Retained earnings (Opening balance) Dividend paid Dividend declared Sales Purchases Depreciation - Motor Vehicles Depreciation - Machinery Interest Other expenses Income tax expense 1,472,000 9,572,000 314,000 628,000 9,880,000 4,484,000 228,000 266,000 1,786,000 808,000 23,260,000 23,260,000