i need help with this question please
ABC Limited list of balances on December 31, 2019 Sales S000 727.911 394,481 70,262 90,530 32.150 16,300 900 46.208 6.280 20.648 153,300 61,300 Cost of sales Distribution costs Administrative expenses Other operating expenses Other operating income Finance costs paid Corporation tax charge for (Note 4) Deferred taxation (Note 3) Corporation tax payable (taken to Statement of Financial Position) Property, plant & equipment Accumulated depreciation Long-term receivables Trade receivables Allowance for bad debts Other receivables and prepayments Cash and bank deposits Issued ordinary share capital General reserve Profit & Loss Account: January 1, 2019 Long term loan Trade payables Other payables and accruals Ordinary dividends paid Closing inventories 3,650 150,126 7.506 5,513 66,722 200,000 2.000 151.419 6,000 98,880 21,625 30,000 276,027 Additional information: 1. Current portion of long term receivable $1,000,000. 2. Current portion of long term loan $2,000,000. 3. Deferred taxation is to be reduced by S246,000 4. Decrease corporation tax by S1,526,000. 5. Allowance for bad debts is 5% of trade deltoes 6. Interest rate of 15% per annum is charged on the long term loan. No interest was outstanding at the beginning ce at the end of the financial year 7. Issued share capital on January 1, 2019, and on December 31, 2019 is 100,000,000 ordinary shares 8. Authorized share capital: 500,000,000 ordinary shares 9. All finance costs were paid during the financial year. 10. The following relates to 2018 Sales Cost of sales Profit before interest & taxation Taxation charge S000 950.450 $75,565 159,550 35.600 11. Property, plant and equipment: Assets Cost Accumulated Charge for the (Jan 1, 2019) Depreciation year (Jan 1, 2019) S000 S000 S000 Land 8.920 Buildings 41,000 2,970 1,025 Plant & machinery 32,200 12.880 6,440 Furniture, fixtures & 9.200 equipment 7,165 1.740 Motor vehicles 60.000 17,480 12.000 During the year equipment acquired amounted to $2,480,000 and equipment costing SS00.000 with accumulated depreciation of S400,000 was disposed of for $150,000 Required: a. Prepare the Statement of Comprchensive Income for the year ended December 31, 2019. b. Prepare the Statement of Changes in Equity for the year ended December 31, 2019. ABC Limited list of balances on December 31, 2019 Sales S000 727.911 394,481 70,262 90,530 32.150 16,300 900 46.208 6.280 20.648 153,300 61,300 Cost of sales Distribution costs Administrative expenses Other operating expenses Other operating income Finance costs paid Corporation tax charge for (Note 4) Deferred taxation (Note 3) Corporation tax payable (taken to Statement of Financial Position) Property, plant & equipment Accumulated depreciation Long-term receivables Trade receivables Allowance for bad debts Other receivables and prepayments Cash and bank deposits Issued ordinary share capital General reserve Profit & Loss Account: January 1, 2019 Long term loan Trade payables Other payables and accruals Ordinary dividends paid Closing inventories 3,650 150,126 7.506 5,513 66,722 200,000 2.000 151.419 6,000 98,880 21,625 30,000 276,027 Additional information: 1. Current portion of long term receivable $1,000,000. 2. Current portion of long term loan $2,000,000. 3. Deferred taxation is to be reduced by S246,000 4. Decrease corporation tax by S1,526,000. 5. Allowance for bad debts is 5% of trade deltoes 6. Interest rate of 15% per annum is charged on the long term loan. No interest was outstanding at the beginning ce at the end of the financial year 7. Issued share capital on January 1, 2019, and on December 31, 2019 is 100,000,000 ordinary shares 8. Authorized share capital: 500,000,000 ordinary shares 9. All finance costs were paid during the financial year. 10. The following relates to 2018 Sales Cost of sales Profit before interest & taxation Taxation charge S000 950.450 $75,565 159,550 35.600 11. Property, plant and equipment: Assets Cost Accumulated Charge for the (Jan 1, 2019) Depreciation year (Jan 1, 2019) S000 S000 S000 Land 8.920 Buildings 41,000 2,970 1,025 Plant & machinery 32,200 12.880 6,440 Furniture, fixtures & 9.200 equipment 7,165 1.740 Motor vehicles 60.000 17,480 12.000 During the year equipment acquired amounted to $2,480,000 and equipment costing SS00.000 with accumulated depreciation of S400,000 was disposed of for $150,000 Required: a. Prepare the Statement of Comprchensive Income for the year ended December 31, 2019. b. Prepare the Statement of Changes in Equity for the year ended December 31, 2019
