Debit S('000) Credit S ('000) Administration costs Sales and distribution costs 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 Carriage in Carriage out Rent Received General reserve Retained profit as at 1 September 27 27 22 31 64 30 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