QUESTION FOUR Information below relates to KAAF Football Club in respect of the year ended 31 October 2013 GH'000 GH'000 Rent and rates 2,500 Stadium repairs and maintenance 4,500 Match takings 20,000 State government grant and aid 25,000 Wages and salaries 15,000 Payment of match bonus 5,000 Transfer fees of players who left the club 12,000 Match expenses 3,500 Transfer fees of new players bought 8,000 Fines and penalties paid to GFA 3,000 Cash and bank balances at the beginning of the period 8,700 Sales proceeds of replica jerseys Prize money for winning FA cup 3,500 Motor running expenses 500 Donations received 9,500 Administration expenses 2,000 Printing and stationeries 400 Communication 600 Honorarium 200 900 The following information is also relevant: i. Insurance premium owing GH500,000. ii. Depreciation has been accurately calculated at GH150,000 in respect of the accounting period. ii. Other match takings not yet remitted by the club's agent amounted to GH2,600,000 You are required to: Prepare the Club's Statement of Income and Expenditure in vertical format for the year ended 31 October 2013. [15 Marks)