Answer all questions Assignment QUESTION ONE Statement of profit or loss and other comprehensive income for the year ended 31 December 2019 of KD Ltd and PD Ltd. KD PD Ltd Ltd GH000 GH000 Revenue Cost of sales Gross profit Distribution costs Administrative expenses Finance costs Profit before tax Income tax expenses 125,200 60,000 (91.600) (48,000) 33,600 12,000 (4,000) (2,400) (7000) (3,600) (400) 22,200 6,000 (6,200) (2,000) Profit for the year 16,000 4,000 Other comprehensive income: Gain on revaluation of property 3,000 Total comprehensive income 19,000 4,000 Statement of financial position as at 31 December 2019 Assets GH000 GH000 Non-current assets: Property, plant and equipment (PPE) 37,400 27,800 10% loan note 2.000 39.400 27,800 Current assets: Inventory 8,600 2,400 Trade receivables Bank Total assets Equity and liabilities: Share capital (issued at GH1 each) 20,000 18,000 Revaluation surplus 4,000 Retained earnings 12.600 7,000 36.600 25.000 9,400 5,000 600 18.000 8.000 57,400 35.800