Other information:

i$.$ For the year ending $31$ December $2023,$ the following revenues and expenses are

recorded.

ii$.$ Members of the fund are paid K $1444000$ in benefits, and K $144000$ is received

as proceeds from term insurance policies. The balance in accounts payable relates

to administrative expenses.

iii. Contribution income for the year is as follows:

Employers: K $1710000$

Members: K $1440000$

iv$.$ During the year the plan acquires the following assets:

v$.$ During the year plan sells some shares in listed companies for K $3780000$

$($Cost K $3420000).$

vi$.$ The market values of the plan's assets at $31$ December $2023$ are:

Amounts in K $\text{'}000$

vii. As at $31$ December $2023,$ the only other assets on hand are:

Amounts in $K\text{'}000$

viii. The balance of accounts payable at $31$ December $2023$ is $K270000$

ix$.$ Assume that no tax is assessed on the fund's earnings.

Required:

$($a$)$ Prepare statement of changes in net assets and

$($b$)$ Calculate the income generated by the fund for the year ended $31$ December

$(10$ Marks$)$

$($c$)$ Prepare statement of net assets as at $31$ December $2023.$