Question 1 On 1st January 2021, Nkana Plc issued 80 million K1 preferred shares at a premium of K0.5 each. Issue Costs totalled K1.5 million. The shares carry a fixed dividend of 6%. The dividend is paid annually in arrears on the 31st of December. The shares will be redeemed on 1st January 2026 at a premium of K73.6m. The effective rate of interest on these shares is 9%. Required: Show how these shares will be reported in the financial Statements of Nkana plc for the years 2021 to 2025. Nkana plcs year-end is 31st December (7 marks)