The following trial balance was taken from the books of Aberdeen Ltd, as at 31 December 2019:

The following additional information relates to financial year ended 31 December 2019 and should be taken into consideration in preparing the financial statements of the company:

Particulars	Debit	Credit
Revenue		2347000
Inventory at 1 Jan 2019	542000
Purchases	1932000
Land at Cost	750000
Buildings at Cost	3500000
Vehicles at cost	42000
Accumulated dep at 1 Jan 2019
Buildings		420000
Vehicles		10000
Trade receivables	230000
Trade Payables		235000
Bank	22000
Ordinary shares at 0.5		550000
6% Long term loan		250000
Share Premium		800000
Retained profits as at 2019		2710000
Distribution Costs	87000
Admin Expenses	120000
Discounts allowed	32000
Director salary	65000
Total	7322000	7322000

1. The cost of inventory at 31 December 2019 is 500,000. It was found that part of the inventory that has a cost of 23,000 was estimated to have a net realisable value of 20,000 at 31 December 2019.
2. Buildings are depreciated using straight line method over 50 years with no residual value. Vehicles are depreciated at rate of 25% based on reducing balance. Buildings are used for distribution and administration functions equally and vehicles are used for transportations between warehouses
3. Land was revalued at the end of the financial year with a new value of 1,000,000. The directors decided to apply the revaluation model for land.
4. Loan interest has not yet been paid.
5. In December 2019 the company made a 2 for 11 rights issue at 1.20 per share. All of them have been excised by the end of the accounting period but the transaction has not been recorded in the above trial balance.
6. On the date of the financial statements it was decided that receivables amounting to 10,000 are irrecoverable due to a customer going bankrupt and should be written off as bad debts. It was also decided that a provision for doubtful debts of 5% of the remaining receivables needs to be created and treated as administrative expenses.

Required:For Aberdeen Ltd, prepare both of the following financial statements for the year ended 31 December 2019 in accordance with IAS 1:

1. Statement of comprehensive income;
2. Statement of financial position.