The following trial balance relates to HAJIA Company ltd as at 30/9/2012:

GHS000 GHS000

Revenue211,900

Cost of sales136,800

Distribution cost12,500

Administrative expenses18,000

Loan note interest1,920

Dividend paid19,200

Investment income 400

Equity shares of GHS0.25 each60,000

Loan note 24,420

Retained earnings at 1/10/201218,500

Land and building at cost (land element GHS10m)50,000

Plant and equipment at cost83,700

Accumulated depreciation at 1/10/11: building8,000

Plant and equipment33,700

Equity financial asset investments17,000

Inventory at 30/9/1224,800

Trade receivables28,500

Bank2,900

Current tax1,100

Deferred tax1,200

Deferred income1,600

Trade payables36,700

397,000397,000

The following notes are relevant:

HAJIA paid an equity dividend of GHS0.80 per share during the year ended 30/9/12.

HAJIA had been carrying land and buildings at depreciated cost, but due to a recent rise in property price, it decided to revalue its property on 1/10/11 to market value at GHS60m (land element is GHS12m). The property had a remaining life of 16 years at the date of its revaluation. HAJIA will make a transfer of GHS1m from the revaluation reserve to retained earnings in respect of the realization of the revaluation reserve.

Plant and equipment is depreciated at 15% per annum using the reducing balance method. All depreciation is charged to cost of sales.

The investments had a fair value of GHS15.7m as at 30/9/2012. There were no acquisitions or disposals of these investments during the year ended 30/9/12.

The balance on current tax represents the under/over provision of the tax liability for the year ended 30/9/11. A provision for income tax for the year ended 30/9/12 of GHS7.4m is required. At 30/9/12, HAJIA had taxable temporary differences of GHS5m, requiring a provision for deferred tax. Any deferred tax adjustment should be reported in the statement of profit or loss. The income tax rate of HAJIA is 20%.

As a result of the above events during the year, the current total tax payable for the year was GHS8.3m whiles the current tax liability at the end of the year was GHS7.4m. The deferred tax liability at the end of the year was GHS0.8m

Required:

a)Prepare the statement of profit or loss and other comprehensive income for HAJIA Company ltd for the year ended 30/9/12

b)Prepare the statement of changes in equity for HAJIA for the year ended 30/9/12

c)Prepare the statement of financial position for HAJIA as at 30/9/12

Notes to the financial statements are not required.