The following is the trial balance of Kwadaso Ltd, a trading company, as at 31st December 2019: Debit Credit GH000 GH000 Revenue 68,865 Inventory 3,150 Cost of sales 34,000 Selling &distribution expenses5,600 Administration expenses 8,540 Loan Note interest paid 110 Bank interest 85 Investment income 360 Leasehold building at valuation-1 Jan 2019 - 14000 Plant and equipment cost/depreciation -. 13,750 3,200 Computer equipment cost/depreciation 7200 2,000 Motor vehicles cost/depreciation1,500 400 Income tax 6,400 Trade receivables 9,200 Bank 910 Trade payables 3,400 500,000 Ordinary shares 14,500 8% Loan notes (2016 2020). 2,500 10% Preference shares (redeemable). 3,000 Revaluation surplus 800 Retained earnings 1 Jan 2019 3,600 total 103,535 103,535

Additional information: i) Non-current assets: Depreciation of Property, plant and equipment is to be provided on the following bases: Plant and equipment 10% on cost Computer equipment 25% on cost Motor vehicles 20% on reducing balance No depreciation has yet been charged on any non-current asset for the year ended 31 December 2019. All depreciation should be charged to Administrative expenses. Kwadaso revalues its buildings at the end of each accounting year. At 31 December 2019 the relevant value to be incorporated into the financial statements is GH14,100,000. The buildings remaining life at the beginning of the current year (1 January 2019) was 25 years. Kwadaso does not make an annual transfer from the revaluation reserve to retained earnings in respect of the realisation of the revaluation surplus. Ignore deferred tax on the revaluation surplus. The company paid ordinary dividends of GH2.2 per share on 31 March 2019 and GH2.6 per share on 30 September 2019. The dividend payments are included in administrative expenses in the trial balance. Required: Prepare the following financial statements of Kwadaso Ltd for publication in accordance with International Financial Reporting Standards (IFRS): a) Statement of profit or loss and other comprehensive income for the year ended 31 December 2019; b) Statement of changes in equity for the year ended 31 December 2019; and c) Statement of financial position as at 31 December 2019. d) Show clearly all relevant working