The balances listed below were extracted from the records of Sulphur Ltd on June 30, 2022: TZS Revenue 530,650,000 Purchases 298,400,000 Returns (inwards) 1,880,000 Delivery vehicles (carrying amount) 19,230,000 Factory plant and equipment (carrying amount) 24,000,000 Land and buildings (carrying amount) 350,000,000 Factory overheads 66,420,000 Administrative expenses 18,710,000 Rent received 12,000,000 Investments (unlisted) 30,000,000 Investment income 1,500,000 Inventory at July 1, 2021 24,680,000 Trade receivables 15,690,000 Trade payables 34,700,000 Distribution costs 44,280,000 Cash in hand 410,000 Bank overdraft 4,820,000 Ordinary shares (TZS 1 each) 150,000,000 Retained earnings at July 1, 2021 160,030,000 The following transactions and events occurred on 30 June 2020, after the above balances had been extracted: (i) Sulphur Ltd received TZS 460,000/= from a customer. (ii) Inventory was valued at TZS 29,170,000/= at the close of business. IAA MAF 2023 CORPORATE REPORTING (AFG 09214) IAA MAF-2023 Page 5 (iii) Sulphur Ltd received an electricity bill for TZS 1,240,000/= relating to the factory for the three months to June 30, 2022. The bill was paid in July 2022. (iv) Sulphur Ltd paid TZS 690,000/= to a supplier in full settlement of an invoice for TZS 700,000/=. (v) The companys land and buildings were valued by a chartered surveyor at TZS 390,000,000/= and the new value is to be included in the statement of financial position. (vi) Depreciation was provided on the reducing balance basis at the following annual rates: Delivery vehicles 20% Factory plant and equipment 10% (vii) Income tax for the financial year ended June 30, 2022 was estimated at TZS 38,100,000/=. Required: Prepare for Sulphur Ltd for the year ended June 30, 2022, in accordance with International Accounting Standard (IAS) 1: Presentation of Financial Statements: (a) a statement of profit or loss and other comprehensive income using the cost of sales (i.e. function of expense) method to present expenses; (b) a statement of changes in equity; and (c) a statement of financial position.