Dr. Cr. (GHC) (GHC) 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 2661 Bank interest received Sundry expenses 6 56 Trade receivables 110 Accruals Trade payables Cash at bank Dividends paid 122 42 43 36 Administrative expenses Interest paid The following information is also relevant: 183 14 2,824 2,824 (1) Inventory at 31st December 2017 is GHC256 (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 GHC100 land and GHC450 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 GHC4 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 GHC10 (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 December 2017