The following is the Trial Balance of X Company

Issued ordinary share capital (5 l shares ) 11 Issued preference shares ( I share ) III Retained sarnings 36 313 Freehold land I320. Other non-current assets II 195.000 Sales revenue BIS 300 Purchases Inventory 1.1.2018 TI 29 Rent Salaries 132.877 General expenses III Directors' remuneration NI 15.000 10% Debenture 100.000 Debenture interest T 1 0,000 Debtors and Creditors 23.976 21.211 Bank TII 29.013 General Reserve 165.000 Provision for depreciation of other non-current assets Interim dividends 11,000 I 883.624 883.624 Additional information: 1. Inventory held at 31 December 20X9 was $23,444. 2. Depreciation is to be provided on other non-current assets at 5% using reducing balance. The company does not charge depreciation on freehold land. 3. Taxation for the year to be $9,100. 4. A transfer of $10,000 was to be made to the general reserve. 5. Salaries accrued at the year-end were $2,233. 6. Rent prepaid for the following year was $820 Required: 1. Prepare the income statement 2. Prepare the statement of changes in equity 3. Prepare the balance sheet