The following balances existed in the accounting records of Jelly Candy Store Ltd. at 31 December 2019: '000 180 2,200 900 100 260 60 200 90 1,360 90 820 Development costs capitalised, 1 January 2019 Freehold land as revalued 31 December 2019 Buildings - cost - accumulated depreciation at 1 January 2019 Office equipment -cost - accumulated depreciation at 1 January 2019 Motor vehicles - cost - accumulated depreciation at 1 January 2019 Trade receivables Cash at bank Trade payables 12% debentures (issued 2012 and redeemable 2024) Called up share capital - equity shares of 50p each Share premium account Revaluation reserve Retained earnings 1 January 2019 Sales revenue Purchases Research and development expenditure for the year Inventories 1 January 2019 Distribution costs Administrative expenses Debenture interest Interim dividend paid 1,000 1,000 500 200 1,272 8,650 5,010 162 990 460 1,560 120 200 In preparing the company's statement of comprehensive income and statement of financial position at 31 December 2019 the following further information is relevant: 1) Inventory at 31 December 2019 was 880,000. 2) Depreciation is to be provided for as follows: Land Buildings Office equipment Motor vehicles Nil 2% per annum on cost 20% per annum, reducing balance basis 25% per annum on cost Depreciation on buildings and office equipment is all charged to administrative expenses. Depreciation on motor vehicles is to be split equally between distribution costs and administrative expenses. The 180,000 total for development costs as at 1 January 2019 relates to two projects: '000 Project 836: completed project (balance being amortised over the period expected to benefit from it. Amount to be amortised in 2019: 20,000) 82 Project 910: in progress 98 180 The research and development expenditure for the year is made up of: '000 Research expenditure 103 Development costs on Project 910 that continues to satisfy the requirements in IAS 38 for capitalisation 59 162 The freehold land had originally cost 2,000,000 and was revalued on 31 December 2019. Prepayments and accruals at 31 December 2019 were: Prepayments '000 40 Accruals '000 11 Administrative expenses Sundry distribution costs 4 7) The share premium account balance arose as a result of the issue during 2019 of 1,000,000 50p equity shares at 1 each. final dividend of 20p per share is proposed. All shares qualify for the proposed final dividend. 8) Tax is estimated as 30,000 and to be accounted. Required: Prepare the following statements for Jelly Candy Store Ltd in respect of the year ended 31 December 2019. You should show clearly all your workings. a) the statement of profit or loss and other comprehensive income b) the statement of financial position c) the statement of changes in equity