Preparation of a statement of financial position and statement of profit or loss and other comprehensive income The summarised general ledger trial balance of Ryan Ltd, a spare parts manufacturer, for the year ended 30 June 2019 is detailed below LO3, 4 Cr $ 7360 000 36 000 9 000 6000 Sales of goods Share of profits of associates Rent received Other income Cost of sales Distribution expenses Sales and marketing expenses Administration expenses Interest expense Other borrowing expenses Income tax expense Cash at bank Deposits (at call) Trade debtors Allowance for doubtful debts Other debtors Employee share plan loans Raw materials inventories Finished goods inventories Investment in associates Land and buildings Accumulated depreciation-buildings Plant and equipment Accumulated depreciation- plant and equipment Financial assets recognised at fair value through other comprehensive income Goodwill Bank loans Other loans Trade creditors Provision for employee benefits Provision for restructuring Provision for warranty Income tax payable Deferred tax liability Issued capital Retained earnings, 1 July 2018 Dividends paid Financial assets revaluation reserve S 4978000 143 000 1 367 000 420 000 74 000 141 000 20000 150000 740 000 24 000 154 000 260000 53 000 1 190000 375 000 426 000 61 000 2 100000 940 000 60000 1 450 000 111 000 810 000 820 000 153 000 62 000 40000 30000 100000 2920 000 760 000 150 000 15 000 $14257 000 $14 257 000 Additional information Employee share plan loans receivable include $50000 due within 1 year $25 000 of bank loans is repayable within 1 year $400 000 of other loans is repayable within 1 year. Provision for employee benefits includes S110000 payable within 1 year The planned restructuring is intended to be fully implemented within 1 year. Provision for warranty is in respect of a 6-month warranty on certain goods sold. The financial assets were acquired during the current year and were revalued by $23000 at the end of the reporting period. The related income tax was $8000 The financial assets are equity securities which the entity elected to recognise at fair value through other comprehensive income. The accumulated gain or loss will not be reclassified. Ryan Ltd uses the single statement format for the statement of profit or loss and other comprehensive income and presents an analysis of expenses by function in the statement. Required Prepare the statement of financial position and statement of profit or loss and other comprehen sive income of Ryan Ltd for the year ended 30 June 2019 in accordance with AASB 101/IAS 1, using statement captions that a listed company is likely to use
