The Pineapple Industry Association (PIA) is a government owned enterprise which is legislated to generate its own income which it uses to cover capital and recurrent expenditures. PIA is an agent of National Agriculture Association. The Young Famers association controls 25% of PIA. Outside of these powers, its government also provide Pineapple Industry with monthly subventions to cover its recurrent expenditures based on Pineapple Enterprise budgetary demands and the legal allocations by the government. Pineapple Enterprises uses ISPAP to prepare its financial statements. You were asked by to government to assist Pineapple Industry with its accounting processes, which involved the recording, generation and preparation of accounting transactions and final accounts as stipulated by the IPSASs. Collaborating with a team of qualified and experienced accountants, you were able to prepare the following accounting information of Pineapple Industry for the year ended December 2021

Details	2021($000)	2020 ($000)
Dividends received from equity investments	1 4 , 200	7500
Service Charge on loans to beneficiaries	70400	60500
Gross margin on sale of pineapples	367308	255400
Interest on Loans to Members	7400	8400
Interest on investments	14700	15000
Miscellaneous Income	60	70
Membership Fees	100020	80000
Grants Received	50000	60000
Grants to farmers	350000	350000
Donations received	10000	45000
Penalties and Fines for breach of Association rules	330	700
Cost of Seminars for Farmers	7000	6000
Royalties for use of lands	4000	3500
Warehouse Storage	6000	5500
General Cleaning & Sanitation	500	1500
Property Rates	1000	1000
Depreciation of Fixed Assets	700	700
Accounting and Consultation Cost	5000	4500
Advances to Staff	680	18406
Salaries to Staff (Gross)	200000	175000
Staff Contribution to Social Security & Other Statutory Contributions	1000	750
PIAs Contribution to Social Security & Other Statutory Contributions	3500	2625
Gain on Sale of Equipment	2000	0
Proceed on the Sale of Equipment	57452	0
Plant, Property and Equipment (at cost, after disposal)	450000	480000
Accumulated Depreciation	47700	47000
Short -term investments	70000	30000
Trade and Other Payables	5160	6700
Cash and Cash Equivalent	2500	1500
Inventory at year end	85000	72000
Receivables	6500	10500
Development Bond Issued	150000	200000
Accumulated Surplus		264986
Contribution from Other Government Entities	75000	75000
Contribution from Noncontrolling entities	25000	25000

Notes relating to 2021

1. The Accountant for PIA records the transaction on a cash basis. For the 2020 audit adjustments were made to reflect the basis required for ISPAS. The audit was completed for 2020, therefore, those figures are final. The 2021 figures are not yet finalized.

2. Dividends received included $4,200,000 relates to amounts receivable on 31 December 2020. Dividend receivable as of 31 December 2021 is $1,100,000.

3. PIA receives an annual transfer of $30,000,000 for the National Agricultural Association for the operating of the industry.

4. Service Charge Outstanding as at 31 December 2021 was $442,000.

5. Interest receivable on Loans to Members as at 31 December 2020 received in 2021 was $2,080,000. Interest receivable at 31 December 2021 was 5,000,000.

6. All membership fees were paid in full. Ten members prepaid their membership for 6 months at $12,000 per month.

7. Only 80% of the Grants Committed were received. The Grants are normally received on a quarterly basis.

8. To secure adequate storage in 2021, payments of 1,612,000 was made in advance.

9. All the surplus, except 25% which are for several associates, are returned to the National Agriculture Association.

10. Bond issued in 2020 was issued for 200,000,000. There was a repayment of $50,000 in 2021.

11. All statutory was paid at year end

Required:

i. Statement of Financial Performance,

ii Statement of Financial Position

iii Cash flow for 2021 in line with ISAPS. Expenses should be classified by nature. No comparative data required for the Cashflow.