Answer the following questions accurately

ZXCs trial balance at 31 March 2014 is shown below: Notes $000 $000 Bank loan (i) 600 Administrative expenses 240 Cash and cash equivalents 64 Deferred development expenditure (v) 210 Deferred development expenditure amortisation at 1 April 2013 (v) 42 Distribution costs 130 Equity dividend paid 97 Finance lease payment (ii) 28 Income tax (vi) 11 Inventory at 31 March 2014 285 Land and buildings at cost (iii) 2,545 Bank loan interest 32 Equity shares $1 each, fully paid at 1 April 2013 1,200 Plant and equipment at cost at 1 April 2013 (iv),(viii) 615 Provision for deferred tax at 1 April 2013 (vii) 76 Accumulated depreciation at 1 April 2013: - buildings (iii) 322 - plant and equipment (iv) 355 Cost of sales 2,154 Retained earnings at 1 April 2013 173 Sales revenue 3,700 Share premium at 1 April 2013 120 Trade payables 319 Trade receivables 263 Suspense account (viii) 233 6,907 6,907 Additional information: (i) The bank loan is a 10 year 8% loan received in 2009 and repayable in 2019. Interest is paid half yearly on 1 June and 1 December. (ii) ZXC acquired a motor vehicle using a finance lease on 1 April 2013. The fair value and present value of the minimum lease payments is $144,000. The lease terms are 6 annual payments of $28,000 due on 1 April commencing 1 April 2013. The rate of interest implicit in the lease is 6.61%. Depreciation of vehicles should be included in distribution costs. The only entry made for this transaction was to record the first rental payment. (iii) Depreciation is charged on buildings using the straight line method at 2% per annum. The cost of land included in land and buildings is $1,200,000. Buildings depreciation is treated as an administrative expense. There were no sales of land and buildings during the year ended 31 March 2014. (iv) Depreciation is charged on owned plant and equipment using the reducing balance method at 25% per year. Plant and equipment depreciation should be charged to cost (v) Deferred development expenditure incurred in the year to 31 March 2013, is being amortised over 5 years. (vi) The income tax balance in the trial balance is a result of the under provision of tax for the year ended 31 March 2013. (vii) The tax due for the year ended 31 March 2014 is estimated at $125,000 and the deferred tax provision should be decreased by $15,000. (viii) The suspense account is comprised of two items: a. On 31 January 2014 ZXC purchased 240,000 of its own $1 equity shares at a premium of 5% on the local stock exchange. At 31 March 2014 ZXC held the shares with the intention to resell them. b. $19,000 cash received from the disposal of some plant and equipment that had an original cost of $75,000 and a carrying value of $32,000. The only entries made in ZXCs ledgers for these items was in cash and cash equivalents and suspense account. Section C continues on page 14 TURN OVER Required: Prepare the statement of comprehensive income and a statement of changes in equity for ZXC for the year ended 31 March 2014 and a statement of financial position at that date, in accordance with the requirements of International Financial Reporting Standards. Notes to the financial statements are not required, but all workings must be clearly shown. Do not prepare a statement of accounting policies