The following trial balance relates to Molly at 31 December 201 : Revenue Dr$Cr$50,000 Purchases Distribution costs Administration expenses Loan interest paid Non-current assets carrying amount Income tax Deferred tax at 1 January 201 Interim dividend paid Trade receivables and payables 20,000 10,400 15,550 400 35,000 Inventory as at 1 January 20X1 Cash and cash equivalents Ordinary shares $0.50 Share premium 10% Loan notes Retained earnings at 1 January 201 The following is to be taken into account: 1 Land that cost $5,000 is to be revalued to $11,000. 2 A final ordinary dividend of 10c per share is declared before the year-end. 3 The balance on the income tax account represents an overprovision of tax for the previous year. 4 The income tax for the current year is estimated at $3,000. The deferred tax provision is to be increased to $8,600. 5 Closing inventory is valued at $16,000 at cost for the year. Included in this amount is inventory that cost $8,000 but during the inventory count it was identified that these goods had become damaged and as result the selling price was reduced. The goods are now believed to have a selling price of $4,500 and will incur rectification costs of $500. Required: Prepare a statement of profit or loss and other comprehensive income, statement of financial position and statement of changes in equity for the year ended 31 December 201