Dr.	Cr.
	(GH)	(GH)
Stated capital		310
Income surplus at 1 January 2017		456
Inventory at 1 January 2017	236
Turnover		1,468
Purchases	856
Salaries	46
Directors salaries (admin expense)	116
Land & building at cost	550
Plant & equipment at cost	578
Land & building- accumulated depreciation as at 1 January 2017		154
Plant & equipment accumulated depreciation as at 1 January 2017		266
Bank interest received		6
Sundry expenses	56
Trade receivables	110
Trade payables		122
Accruals		42
Cash at bank	43
Dividends paid	36
Administrative expenses	183
Interest paid	14
	2,824	2,824

The following information is also relevant:

1. Inventory at 31^st December 2017 is GH256
2. The tax liability for the year is estimated to be 20% of the profit before tax.
3. The original cost of land and buildings is made up of GH100 land and GH450 buildings. Buildings are used in administration and depreciation is charged on a straight line basis over the estimated useful life of 50 years.
4. Plant & equipment are used in distribution and depreciation is charged at 15% reducing balance basis.
5. Trade receivables include GH4 owed by a customer who is in liquidation. Due to the economic climate the company wish to make an allowance of 5% of remaining debts.
6. No account has been made for the audit fee of GH10 (admin expense).
7. Unless otherwise stated, expenditure should be split evenly between administration and distribution costs.

Required:

Prepare the statement of comprehensive income and statement of financial position for the year ended 31^st December 2017.