Below is the Trial Balance for TK & Company Limited as at 31 December 2020. TK & Company Limited Trial Balance as at 31 December 2003 Cash at hand 2,000 Cash at bank 4,000 Land, cost 100,000 Motor vehicle at cost 10,000 Accumulated depreciation Motor vehicle 2,000 Equipment at cost 20,000 Accumulated depreciation (equipment) 4,000 Stock 1st January (opening stock) 1,000 Trade debtors 5,000 Provision for bad debts 2,000 Trade creditors 3,000 Sales 200,000 Purchases 110,000 Discount allowed 2,000 Discount received 1,000 Purchases returns (return outwards) 5,000 Sales returns (returns inwards) 10,000 Carriage inwards 6,000 Salaries 8,000 Salaries payable (accrued salaries) 15,000 Rent 1,800 Electricity 7,000 Bad debts 1,200 Capital 26,000 Long term bank loan 30,000 288,000 288,000 Additional Information: Closing stock at the end of the financial year was valued at GH20,000,000 Salaries of GH15,000,000 accrued or remained outstanding at the end of the year and were not recorded in the trial balance. Half of the rent paid is for the following financial year ending December 31, 2021. Depreciation is to be accounted for on the following basis: o Land & Building 5% Straight-line method o Motor vehicles 20% Straight-line method o Equipment and furniture 10% Straight-line method Depreciate fixed assets by 20% on the cost at the end of the year 20% of trade debtors are expected to default a provision against bad debts should be made. Corporate tax rate is 25% Required: Prepare the following financial statements of TK Limited by relevant legislation and international reporting standards (IFRS): (a) The Statement of Comprehensive Income for the year ended December 31, 2020. (b) The Statement of Changes in Equity for the ended December 31, 2020. (c) The Statement of Financial Position as at December 31, 2020.