The following trial balance is available for Wiggins SA as of 31 December 20x3.
₵000
₵000
Issued share capital
17,250
Retained earnings
57,500
10% long-term loan (20x9)
63,250
Bank overdraft
6,325
Trade payables
30,650
Accumulated depreciation – vehicles
9,200
Accumulated depreciation - buildings
2,300
Accumulated depreciation - equipment
3,450
Freehold land
57,500
Freehold buildings
57,500
Equipment
14,950
Motor vehicles
20,700
Inventory at 1 Jan 20x3
43,125
Trade receivables
28,750
Cash in hand
4,600
Purchases
258,750
Bank interest
1,150
Dividends
1,725
Interest on loan
6,325
Insurance
5,290
Salaries and wages
20,355
Motor expenses
9,200
Taxation that was underprovided
750
Light, power, miscellaneous
4,255
Sales
345,000
534,925
534,925

The following information relating to accruals and prepayments has not yet been taken into account in the amounts shown in the trial balance:
i. Inventory valued at cost at 31 December 20x3 was ₵25,875,000.
ii. Depreciation is to be provided as follows:
a. 2% on freehold buildings using the straight-line method.
b. 10% on equipment using the reducing balance method.
c. 25% on motor vehicles using the reducing balance method.
iii. ₵2,300,000 was prepaid for light, power, and miscellaneous expenses and ₵5,175,000 has accrued for wages.
iv. Freehold land was revalued on 31 December 20X3 at ₵77,500,000, resulting in a gain of ₵20,000,000.
v. Assume income tax at 20% of pre-tax profit.
vi. 1,500 shares had been issued on 1 January 20X3 at ₵1.50 each.

Required:
A. Prepare for the year ended 31 December 20x3 the statement of comprehensive income, the statement of changes in equity, and the statement of financial position. (32 marks)

B. IAS 1 Presentation of Financial Statements requires ‘other comprehensive income’ items to be included in the statement of comprehensive income, and it also requires a statement of changes in equity. Explain the need for publishing this information and identify the items you would include in them.