DM Plc. is a quoted with an authorized share capital of 500,000, consisting of ordinary shares of no-par value. Below are the extracted balances of DM company for the year ended 31st December, 2019. GH000

Purchases	5,848
Revenue	9,824
Returns inwards	432
Returns outwards	148
Carriage inwards	56
Wages and salaries (see Note (ii)) Rent and business rates (see Note (iii)) General distribution expenses General administrative expenses	544 60 112 96
Discounts allowed	144
Retained profits as at 31 Dec. 2020	408
Inventory	336
Bad debts	20
Loan-note interest	48
Motor expenses (see Note (iv)) Interest received on bank deposit Income from associates and joint ventures Motor vehicles at cost: Administrative	54 24 12 216
Distribution	368
Equipment at cost:	Administrative	60
Distribution	40
Royalties receivable	20
Dividends paid	420

Additional information

i. ii.	Inventory at 31 December 2020 is GH408,000. Wages and salaries are to be apportioned: distribution costs 1/4, administrative expenses Rent and business rates are to be apportioned: distribution costs 60%, administrative expenses 40%.
iii.

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iv.	Apportion motor expenses in the proportions 2:3 between distribution costs and administrative expenses. Depreciate motor vehicles 25% and equipment 10% on cost. Accrue auditors remuneration of GH44,000. Accrue corporation tax for the year on ordinary activity profits of GH1,456,000. A sum of GH 60,000 is to be transferred to general reserve.
v. vi. vii. viii.

Required;

	From the above information, prepare a detailed statement of profit or loss for internal use,
and a statement of profit or loss for publication and income surplus account