Recoinage Ltd recorded the following operational income and expenses for the year ending 30 June 2015:

Revenue (Sales)	$382,000
Cost of Sales	142,000
Commission received	20,000
Interest received	8,000
Distribution expenses	35,000
Marketing expenses	20,000
Occupancy expenses	41,000
Administration expenses	53,000
Other expenses	22,000
Finance cost expenses	10,000

Additional information:

Share capital at 1 July 2014 was 800,000 ordinary shares of $ 1.00 each, fully paid
The company issued 200,000 ordinary shares on 1 May 2015 at $1.15 each, fully paid
Administration expenses included:
Audit fees:	$ 6,000
Fees for taxation services paid to the auditors:	$ 4,000
Depreciation of property, plant & equipment:	$12,000
Retained earnings balance 1 July 2014 (credit)	$122,000
General reserve balance 1 July 2014	$ 10,000
Transferred during the year to general reserve from retained earnings	$15,000
Asset Revaluation Reserve balance 1 July 2014	$25,000
The previous valuation of Land and Buildings was	$425,000
A revaluation of Land and Buildings on 30 June 2015 by the director	$445,000
A fully franked interim dividend of $0.02 (2 cents) per ordinary share was paid on 15 March 2015 for 800,000 ordinary shares
The directors declared a proposed final dividend of $0,035 (3.5 cents) per ordinary share, fully franked, on 30 June 2015
Income tax expense for the year is	$26,000
Franking credits available at the end of the year were	$18,225

Required:

( a ) Prepare Statement of Comprehensive Income with both expenses (classified

by function) and revenues disclosed on the face of the statement.

( b ) Prepare a Statement of Changes in Equity disclosing all movements on the statement.

Recoinage Ltds Policy And Procedures Manual requires the use of the format/templates provided on the following pages.

NOTE: Prior year comparative figures are NOT required.

QUESTION 1 (Suggested format/layout).

Statement of Comprehensive Income for the year ended 30 June 2015
Revenue (sales)
Cost of sales
Gross profit
Other income commission received
Interest received
Distribution expenses
Marketing expenses
Occupancy expenses
Administrative expenses
Audit Fees
Fees for taxation servoces paid to auditors
Other expenses
Finance costs
Depreciation on property,plant and equipment
Profit before income tax
Income tax expense
Profit after tax
Other Comprehensive Income
Gain on revaluation of property
Income tax on other comprehensive income
Total other comprehensive income
Total Comprehensive Income