RISUT drly Tour of the six (6) questions. Each question is worth ten (10 marks Frank's Co. Statement of profit or loss and other comprehensive income for the year ended 31 December 2016, $ 000 Revenue 550 Cost of sales 1260) Gross Profit 290 Distribution cost 170) Administrative (60) Profit from operations 160 During the year the entity ran down a material business operation with all activities ceasing on 30 June 2016 The results were as follows: S000 70 Revenue Cost of sales (45) Distribution cost 1121 Administration cost LOS (14) Required: Prepare the statement of profit or loss for the year ended 31 December 2016 for the company, complying with IFRS 5, disclosing the information on the face of the statement of profit or loss. Show all workings (10 marks)