An extract from the financial statements of Wedding Cake Island Ltd for the year ended 30 June is provided below. Wedding Cake Island Ltd Abridged statement of profit or loss and other comprehensive income for the year ended 30 June 2023 Profit before tax Income tax expense Profit for the year Other comprehensive income 2023 ($) 2022 ($) 19 000 23 600 (5 700) (7 080) 13 300 16 520 13 300 16 520 Wedding Cake Island Ltd Statement of changes in equity for the year ended 30 June 2023 Balance at 30 June 2021 Share capital ($) 3 000 Profit for the year ending 30 June 2022 16 520 Distributions (4.000) Retained earnings ($) 3 040 Total ($) 6 040 16 520 (4.000) Balance at 30 June 2022 3 000 15 560 18 560 Profit for the year ending 30 June 2023 Dividends 13 300 (4.000) 13 300 (4.000) Balance at 30 June 2023 3 000 24 860 27 860 The following additional information is available: During the preparation of the 2023 financial statements, it became apparent that electricity expenses of $3000 had been omitted when the 2022 financial statements were prepared. The Tax Office has indicated that electricity expense will be permitted as a deduction for tax purposes. The tax rate is 30 per cent. REQUIRED Prepare the statement of profit or loss and other comprehensive income and statement of changes in equity so as to comply with all applicable accounting standards. LO 16.3, 16.4, 16.10