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The following information relates to Dumadeal Ltd 30 Jun 2019 Share capital 100 000 10% cumulative reference shares issued at $1 each 200 000ordinary shares

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The following information relates to Dumadeal Ltd 30 Jun 2019 Share capital 100 000 10% cumulative reference shares issued at $1 each 200 000ordinary shares issued atS1 each General reserve (balance ljuly 2018) Retained earnings (balance1 july 2018) Revenue Profit before income tax (and items listed below) Interest expense Paid damages on lawsuit Gain on sale of property plant and equipment $100 000- $200 000 $55 000 S50 000. $1 550 000 $190 000. $23 000 $50 000 $105 000 Additional information During the year ended 30 june 2019: (a) Directors declared and paid dividends of 5% on the preference shares and 10c per share interim on ordiary shares (b) Assume the tax rate is 30% for estimating income tax expense. equired a. Prepare the statement of profit or loss and other comprehensive income for the year ended 30 June 2019 in accordance with current accounting standards b. Prepare the statement of changes in equity for the year ended 30 June 2019

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