The following list of account balances has been prepared by Ghana Aluminium Munchenon 31 May 2014, which is the end of the company's accounting period GHC G C Authorised andmed 900.000 dinary shares OrGHICI cach, fully paid 100,000 84% Cumulative preference shares of GHCcach Fully paid 100.000 Revaluation Surplus General Reserve Income Surplus at 1 June 2013 Reven Administrative Expenses Selling & Distribution Expenses 116,00 Legal & Professional Expenses Allowances for receivables- 31 May 2013 Inventory - Finished Goods - 31 May 2013 184. Patients and Trademarks 215.00 Freehold Property - Cost Leasehold Property - Cost Accumulated amortization of caschold property-31 May 2014 Plant and Equipment - Cost 150,000 Accumulated depreciatice-Plant and Equipment - 31 May 2014 Furniture and fittings - At Cost Accumulated depreciation - Fumiture and Fittings - 31 May 2014 15.750 Motor Vehicles.com caminer Richard Doe-Dartey Accumulated depreciation - Motor Vehicle 31 May 2014 10% Loan Notes (2010-2018) Trade Receivables Trade Payables Bank Overdraft Inventory- Raw Materials - 31 May 2013 Purchases - Raw Material Carriage inwards - Raw Materials Manufacturing Wages Manufacturing overheads 750,00 10.500 250.000 Work-is-Progress Additional Information 1. Inventories at 31 May 2014 were as follows GS Raw Materials 112.00 Finished Goods 275.350 Work-in-Progress 2. Depreciation for the year is to be charges as follows: Plant and Equipment Cost Charged to Production Fumiture and Fixtures 10% on Cose - Charged to administration Motor Vehicles 20% reducing - 2 admin - 79% Selling and Distribute Financial Legal and Professional expenses include solicitors fees for purchase offre old land during your wated to GHS 5,000,000 4. Provision is to be made for a full years interest on the boots 5. Income tax on the profits for the year is estimated GHC 40,000 and is due for payment on 28 February 2015 & The directes recommended on 30 June that a dividend of 3.5 pocas pershere be paid on the ordinary share capital. No cedinary dividend was paid during the year ended 31 May 2013 7. The local land and buildings are held on a 50 year quod to yang Required From the information given above, prepare the statement of compechenshe income of Ghana Aluminium Lyd for the year to 31 May 2014 and a statement of financial position as the date for publication in accordance with International Financial Reporting Standards (IFRS) Notes to the financial statement are not required The following list of account balances has been prepared by Ghana Aluminium Munchenon 31 May 2014, which is the end of the company's accounting period GHC G C Authorised andmed 900.000 dinary shares OrGHICI cach, fully paid 100,000 84% Cumulative preference shares of GHCcach Fully paid 100.000 Revaluation Surplus General Reserve Income Surplus at 1 June 2013 Reven Administrative Expenses Selling & Distribution Expenses 116,00 Legal & Professional Expenses Allowances for receivables- 31 May 2013 Inventory - Finished Goods - 31 May 2013 184. Patients and Trademarks 215.00 Freehold Property - Cost Leasehold Property - Cost Accumulated amortization of caschold property-31 May 2014 Plant and Equipment - Cost 150,000 Accumulated depreciatice-Plant and Equipment - 31 May 2014 Furniture and fittings - At Cost Accumulated depreciation - Fumiture and Fittings - 31 May 2014 15.750 Motor Vehicles.com caminer Richard Doe-Dartey Accumulated depreciation - Motor Vehicle 31 May 2014 10% Loan Notes (2010-2018) Trade Receivables Trade Payables Bank Overdraft Inventory- Raw Materials - 31 May 2013 Purchases - Raw Material Carriage inwards - Raw Materials Manufacturing Wages Manufacturing overheads 750,00 10.500 250.000 Work-is-Progress Additional Information 1. Inventories at 31 May 2014 were as follows GS Raw Materials 112.00 Finished Goods 275.350 Work-in-Progress 2. Depreciation for the year is to be charges as follows: Plant and Equipment Cost Charged to Production Fumiture and Fixtures 10% on Cose - Charged to administration Motor Vehicles 20% reducing - 2 admin - 79% Selling and Distribute Financial Legal and Professional expenses include solicitors fees for purchase offre old land during your wated to GHS 5,000,000 4. Provision is to be made for a full years interest on the boots 5. Income tax on the profits for the year is estimated GHC 40,000 and is due for payment on 28 February 2015 & The directes recommended on 30 June that a dividend of 3.5 pocas pershere be paid on the ordinary share capital. No cedinary dividend was paid during the year ended 31 May 2013 7. The local land and buildings are held on a 50 year quod to yang Required From the information given above, prepare the statement of compechenshe income of Ghana Aluminium Lyd for the year to 31 May 2014 and a statement of financial position as the date for publication in accordance with International Financial Reporting Standards (IFRS) Notes to the financial statement are not required