The Dowrich Company Limited is a trader in industrial chemicals. The following trial

balance was obtained as at December $31,2016$:

End Notes:

Wages and salaries is prepaid by $$20,000$

Insurance is owing by $$2,000$

Corporation tax is estimated at $$45,000$

The goodwill is to be impaired by $25\%$

A transfer of $$30,000$ is to be made from profits to general reserves

Provide for depreciation as follows:

The preference shares dividends will be honored

The following expenses are to be apportioned between admin and selling &

distribution:

Required:

Prepare the following:

The statement of profit and loss for the year ending December $31,2016$

The statement of change in equity for the year ending December $31,2016$

The statement of financial position as at

December $31,2016$

Required:

Prepare the following:

$1.$ The statement of profit and loss for the year ending December $31,2016$

$2.$ The statement of change in equity for the year ending December $31,2016$

$3.$ The statement of financial position as at December $31,2016$