Required; From the above information, prepare a detailed statement of profit or loss for internal use and a statement of profit or loss for publication and income surplus account.

Question Two DM Plc. is a quoted with an authorized share capital of 500,000, consisting of ordinary shares of no-par value. Below are the extracted balances of DM company for the year ended 31" December, 2019. GH '000 Purchases 5,848 Revenue 9,824 Retums inwards 432 Returns outwards 148 Carriage inwards 56 Wages and salaries (see Note (1)) 544 Rent and business rates (see Note (111) 60 General distribution expenses 112 General administrative expenses 96 Discounts allowed 144 Retained profits as at 31 Dec. 2020 408 Inventory 336 Bad debts 20 Loan-note interest 48 Motor expenses (see Note (iv)) 54 Interest received on bank deposit 24 Income from associates and joint ventures 12 Motor vehicles at cost: Administrative 216 Distribution 368 Equipment at cost: Administrative 60 Distribution 40 Royalties receivable 20 Dividends paid 420 Additional information i Inventory at 31 December 2020 is GH408,000. ii. Wages and salaries are to be apportioned: distribution costs 1/4, administrative expenses 111. iv. Rent and business rates are to be apportioned: distribution costs 60%, administrative expenses 40% Apportion motor expenses in the proportions 2:3 between distribution costs and administrative expenses. Depreciate motor vehicles 25% and equipment 10% on cost. Accrue auditors' remuneration of GH44,000. vii. Accrue corporation tax for the year on ordinary activity profits of GH1,456,000. viii. A sum of GH 60,000 is to be transferred to general reserve. V. vi 3