The following additional information relating to FW Ltd. is also available:

1. Stock at 31 March 2019 was valued at $60,200.

2. Furniture costing $43,600, which $28,280 depreciation had been provided, was sold for $11,560 during the year. This transaction has not been recorded because the proceeds of sale has not yet received at year end.

3. There was no purchase of fixed assets during the year. Depreciation on equipment and furniture are provided on straight-line basis on cost at the rate of 10% p.a. and 5% p.a. respectively.

4. Accrued distribution costs amount of $5,680 and prepaid other expenses $9,800 were in the year.

5. The estimated tax expenses for the year amounting to $13,460.

6. The directors have decided to increase the general reserve up to $120,000 in total.

REQUIRED:

Prepare a Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 March 2019, a Statement of Changes in Equity and a Statement of Financial Position as at that date. (Show all workings and calculation clearly)

Consider the following data being taken out of the Trial Balance of FW Ltd. as at 31 March 2019: Dr Cr Ordinary shares of $5 each 8% debentures General reserve 530.000 90,000 100,000 135,323 Retained profits Equipment at cost Furniture at cost Accumulated depreciation - Equipment Accumulated depreciation - Furniture Stock at 31 March 2018 Accounts Receivable Accounts Payable Cash at bank Purchases Sales Administrative expenses General expenses Directors remuneration Distribution costs Debenture interest Interim dividend paid - Ordinary shares Other expenses 175,000 196,000 89,500 147,800 93,683 220,640 91,661 566,662 128,820 530,260 73,740 85,608 30,364 100,807 3,600 13,900 25,720 1,714,544 1,714,544 Total Consider the following data being taken out of the Trial Balance of FW Ltd. as at 31 March 2019: Dr Cr Ordinary shares of $5 each 8% debentures General reserve 530.000 90,000 100,000 135,323 Retained profits Equipment at cost Furniture at cost Accumulated depreciation - Equipment Accumulated depreciation - Furniture Stock at 31 March 2018 Accounts Receivable Accounts Payable Cash at bank Purchases Sales Administrative expenses General expenses Directors remuneration Distribution costs Debenture interest Interim dividend paid - Ordinary shares Other expenses 175,000 196,000 89,500 147,800 93,683 220,640 91,661 566,662 128,820 530,260 73,740 85,608 30,364 100,807 3,600 13,900 25,720 1,714,544 1,714,544 Total