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SHOULD BE DONE IN DETAILED TABLE FORMAT The following additional information is available: 1 . At September 3 0 , 2 0 2 3 closing

SHOULD BE DONE IN DETAILED TABLE FORMAT
The following additional information is available:1.At September 30,2023 closing inventory was $32,0002. The Accountant has determined that the estimate for the provision for bad debts at September 30,2023 is 10% of debtors.3.At the end of the period it was discovered that one employee was owed $2,000 in salaries while another was overpaid by $4,000. Additionally insurance prepaid was $3004. The following appropriation of the expenses must be made Admin. Selling & Dist. Rent 80%.20%wages & salary 60%.40%Insurance 50%.50%Prov. For depreciation. 70%.30%5. On June 1,2023 the company rented some of its office space to Breezy Ltd. At that date Breezy Ltd paid rent covering the next nine months.6. Depreciation should be provided as follows:Land - nilBuildings -2 percent per year on costFurniture & Fittings -20 percent per year on reducing balance7. Goodwill impairment was estimated to be 20%.8. Corporation tax is estimated to be $42,0009. The directors proposed on September 20,2023 to pay the final preference dividends.At a board of directors meeting on October 19,2023 the directors evaluated the performance of the business over the past financial year and proposed to pay a further 6% ordinary dividend.Required:(a) Prepare the following for McKie Ltd for the financial year ending September 30,2023:i. Statement of Profit or Lossii. Statement of changes in equity iii. Statement of Financial Position.(b) Calculate the following ratios for McKie Ltd: i. Current ratioii.Gearing ratioili.Debt to Equity ratioiv. Return on capital employedv. Return on shareholders' equity(c) Discuss a report to management on the Liquidity, Solvency, and Profitability of McKie Ltdrelative to the industry's performance below:Current ratio -1.5:1Gearing ratio -35%Debt to Equity -0.45: 1Return on capital employed -35% Return on shareholders' equity -40%(d) "Internally generated Goodwill can be recognized in the financial statements under certainconditions." Please discuss the preceding statement making reference to any relevant accounting standard.
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