QUESTION 3 (25 marks) The information below, represents the draft statement of comprehensive income of H Ltd for the year ended 31 December 2020. 2026 2018 NS 300 NS 000 come 14 600 12700 Cost of 7 2006 100 Gross profit 00000 Operating perses 00 2001 Interest paid (500 400) Proft before 33001 3000 Taxon 320) (1200) Proft and total correo income for the year 1980 000 ADDITIONAL INFORMATION: 2020 2019 NS ONS 000 500 400 Dividende Retained earnings: For year140 1450 Opening balance 3200 1800 Closing balance 140200 The following balances appear in the draft statement of financial position on 31 December 2020: 2020 2015 Deferred tax, 1620 1300 Inventory 3 2002 200 NS BOONS 000 After completion of the draft statements, management decided to change the method for determining the cost price of inventory It was decided to include, as from 1 January 2020. overheads in the cost of inventory. Details of inventory are as follows 31 December 2020 2019 2010 Invertory at Now 540 3450 000 Old bass 2002800500 640580500 REQUIRED: a) Prepare the journal entry to account for the change in the cost of inventory in the accounting records for 2020. (5 marks) b) Prepare the statement of comprehensive income and the statement of changes in equity and disclose the relevant note to the financial statements of H Ltd for the change for the year ended 31 December 2020 in accordance with International Financial Reporting Standards. (20 marks)