The following is the trial balance of Friends Co at 31 December 2020: '000 Dr '000 Cr 20,338,560 Sales Cost of sales 9,801,000 Distribution Cost 3,433,320 Administration Cost 3,979,800 Finance Cost 102,168 Taxation 56,430 81,972 Deferred tax 178,200 Debentures Non-current assets: Buildings 2,376,000 Buildings accumulated depreciation 406,296 Land 665,280 Plant 1,487,376 Plant accumulated depreciation 487,080 Closing Inventory 1,657,260 Receivables 1,894,860 Payables 908,820 Bank 58,212 Ordinary Class A share capital 2,352,240 Ordinary Class B share capital 736,560 Retained Profit 986,040 Dividend paid Additional information ('000): 1,080,486 26,533,980 26,533,980 On 1 January 2020 the company revalued its non-current assets. These revaluations have not yet been included in the trial balance above. Revaluation details are as follows: Land revalued to 700,000. Building revalued to 2,000,000. The expected life on 1 January 2020 for the building was determined at 40 years. It is company policy to include the depreciation on buildings in cost of sales. Depreciation for all the other assets has already been calculated for the year ending 31 December 2020. Friends plc. operates in a country where tax is not applicable on revaluation surplus. On 1 August 2020, an entity issued 900,000-four-year convertible bonds that have a coupon rate of 3.7%. The market rate of interest for similar bond without conversion rights is 4.5% (being the interest rate for an equivalent debt without the conversion option). On 31st December 2020, the deferred tax liability declined by 1,972. Required: In accordance with the IFRSS, prepare the following statements: a. Statement of profit or loss and other comprehensive income for the year ended 31 December 2020. b. Statement of financial position as at 31 December 2020. All workings must be clearly shown