Administration costs Sales and distribution costs Debit Credit S('000) S ('000) 715 475 Sales 3,700 Purchases 1,860 Premises (cost of $1,500,000) 1,410 Vehicles (cost ($980,000) 700 Furniture and equipment (cost $450,000) 340 Bank 300 Accounts receivables 30 Accounts payable 155 12% debentures 225 Debenture interest 18 10% preference shares 350 Ordinary shares (300,000 @ $5 per share) 1,500 Ordinary dividend paid 15 Opening inventory 180 Discount allowed 38 Discount received 27 Carriage in Carriage out Rent Received 27 22 31 64 General reserve 30 Retained profit as at 1 September 83 6,134 6,134 Additional Information 1. On 31 August inventory was valued at $162,000 2. Depreciation is to be provided on non-current assets as follows: Premises 2% straight line Vehicles 10% - reducing balance Furniture and equipment 20% - straight line 3. Administration fees of $4,000 have yet to be paid and are to be accrued for. 4. Distribution costs of $8,000 have been prepaid as 31 August 5. Any outstanding debenture interestr is to be provided for 6. A provision is to be made for the preference share dividend 7. A transfer should be made to general reserves of $32,000 Required a) Prepare a statement of comprehensive incomed for the year b) Prepare a statement of changes in equity for the year c) Prepare a statement of financial position as at 31 August