How to deal with it?

a)Prepare a statement of profit or loss and other comprehensive income for Greene Ltd for the year ended 30 June 2017 (classify expenses by functions). Show all workings.

b)Prepare a statement of financial position for Greene Ltd as at 30 June 2017 to comply with AASB 101. Use the current and non-current presentation format. Show all workings.

c)Prepare a statement of changes in equity for Greene Ltd for the year ended 30 June 2017 according in accordance with the requirements of AASB 101. Show all workings.

The adjusted trial balance of Greene Ltd as at 30 June 2017 is as follows (in random order): Loan to Johnson Ltd (due on 30/6/2023) Accounts receivable Asset revaluation reserve as at 1/7/2016 Asset Revaluation Reserve - Land Administrative staff salaries expense Provision for long service leave -short term liability Deferred tax liability Advertising expense Bank loan (unsecured - long-term borrowing repayment due on 30/06/2018) Bank loan (unsecured -long-term borrowing repayment due on 1/07/2018-30/06/2023) Carrying amount of plant and machinery sold Accumulated amortisation - patents & trademarks Accumulated impairment loss - goodwill Cost of sales Asset Revaluation Reserve - Held-to-maturity share investment Deposits at call Dividend revenue Deferred tax asset Provision for long service leave - long term liablility Debentures held in Elsvier Ltd (mature on 30/5/2018) Accumulated depreciation Plant & machinery Fixtures & fittings Buildings Underwriting commission and other share issue costs Dividends receivable Retained earnings as at 1/7/2016 Mortgage loan (secured over land and buildings - due 30/9/2020) Freight inwards Freight outwards Ordinary shares, fully paid Goodwill Accounts payable Provision for annual leave Land (at fair value) Buildings Current tax liabilities Allowance for doubtful debts Held-to-maturity investment (at fair value, due in 2020) General reserve Patents and trademarks Prepayments Inventories Debit $ 398,000 1,478,000 Credit $ 672,000 210,000 668,000 228,000 359,000 248,000 168,000 288,000 240,000 153,000 308,000 3,552,000 14,000 248,000 171,000 338,000 278,000 442,000 334,000 125,000 168,000 175,000 136,000 678,000 382,000 218,000 243,000 3,430,000 1,110,000 600,000 190,000 1,404,000 1,028,000 284,000 205,000 228,000 808,000 303,000 168,000 2,078,000 Income tax expense Final dividend payable Fixtures & fittings - at cost Cash at bank Sales revenue Sundry revenue Sales returns Sales staff salaries and commission expense 7% debentures - due 30/4/2018 (secured over inventories) Proceeds on sale of plant and machinery Other administrative expense Other selling expense Plant & machinery - at cost Preference shares, fully paid Interest expense Other expenses Interest revenue Transfer to general reserve Interest payable Interim dividend paid - ordinary shares Final dividend declared - ordinary shares Final dividend declared - preference shares Total 253,000 328,000 246,000 658,000 7,366,000 302,200 150,000 628,000 213,000 200,000 498,000 338,000 812,000 720,000 196,000 250,000 178,000 178,000 137,000 259,200 228,000 100,000 19,497,200 19,497,200 Additional information: i) Contributed equity as at 1 July 2016 consisted of: 1,000,000 ordinary shares issued at $2.23 each, fully paid $ 2,230,000 360,000 5% preference shares issued at $2.00 each, fully paid 720,000 ii) On 14 July 2016, a rights issue of 600,000 ordinary shares were made at $2.00 each. The underwriting commission and other shares issue costs other share issue costs amounted to $30,000. iii) On 30 June 2016, both land and held-to-maturity investments were revaluated. iv) An amount of $178,000 was transferred from retained earnings to general reserve. v) Accounting policies adopted are consistent with those of the previous year. vi) The tax rate is 30% Required a Prepare a statement of profit or loss and other comprehensive income for Greene Ltd for the year ended 30 June 2017 (classify expenses by functions). Show all workings. b Prepare a statement of financial position for Greene Ltd as at 30 June 2017 to comply with AASB 101. Use the current and non-current presentation format. Show all workings. c Prepare a statement of changes in equity for Greene Ltd for the year ended 30 June 2017 according in accordance with the requirements of AASB 101. Show all workings