The summarised general ledger trial balance of Matthew Ltd, a manufacturing company, for the year ended 30 June 2019 is detailed below. DrCr Sales revenue$5 000 000 Interest income22 000 Sundry income25 000 Change in inventories of work in progress$ 125 000 Change in inventories of finished goods60 000 Raw materials used2 200 000 Employee benefit expense950 000 Depreciation expense226 000 Amortisation patent25 000 Rental expense70 000 Advertising expense142 000 Insurance expense45 000 Freight out expense133 000 Doubtful debts expense10 000 Interest expense30 000 Other expenses8 000 Income tax expense320 000 Cash4 000 Cash on deposit (at call)80 000 Trade debtors495 000 Allowance for doubtful debts18 000 Other debtors27 000 Raw materials inventories, 30 June 2019320 000 Finished goods inventories, 30 June 2019385 000 Land94 000 Buildings220 000 Accumulated depreciation land and buildings52 000 Plant and equipment1 380 000 Accumulated depreciation plant and equipment320 000 Patents140 000 Accumulated amortisation patent50 000 Goodwill620 000 Bank loans92 000 Other loans450 000 Trade creditors452 000 Provision for employee benefits120 000 Income tax payable35 000 Deferred tax liability140 000 Retained earnings, 30 June 2018310 000 Dividends paid210 000 Share capital1 137 000 Dividends reinvested41 000 Deferred cash flow hedge (equity)65 000 $8 324 000$8 324 000

Additional information $20 000 of bank loans is repayable within 1 year. $90 000 of other loans is repayable within 1 year. Matthew Ltd uses the single statement format for the statement of profit or loss and other comprehensive income and presents an analysis of expenses by nature in the statement.

Required Prepare the statement of financial position, statement of profit or loss and other comprehensive income and statement of changes in equity of Matthew Ltd for the year ended 30 June 2019 in accordance with the requirements of AASB 101/IAS 1, using statement captions that a listed company is likely to use.

16.20 Preparation of a statement of financial position, statement of profit or loss and other comprehensive income and statement of changes in equity *** LO3, 4, 5 The summarised general ledger trial balance of Matthew Ltd, a manufacturing company, for the year ended 30 June 2019 is detailed below. Dr Cr Sales revenue $5 000 000 Interest income 22 000 Sundry income 25 000 Change in inventories of work in progress $ 125 000 Change in inventories of finished goods 60 000 Raw materials used 2200 000 Employee benefit expense 950 000 Depreciation expense 226000 Amortisation - patent 25 000 Rental expense 70 000 Advertising expense 142 000 Insurance expense 45000 Freight out expenso 133 000 Doubtful debts expense 10000 Interest expense 30 000 Other expenses 8000 Income tax expense 320 000 Cash 4000 Cash on deposit (at call) 80 000 Trade debtors 495 000 Allowance for doubtful debts 18000 Other debtors 27 000 Raw materials inventories, 30 June 2019 320000 Finished goods inventories, 30 June 2019 385 000 Land 94000 Buildings 220000 Accumulated depreciation - land and buildings 52 000 Plant and equipment 1380 000 Accumulated depreciation - plant and equipment 320 000 Patents 140 000 Accumulated amortisation - patent 50 000 Goodwill 620000 Bank loans 92000 Other loans 450 000 Trade creditors 452 000 Provision for employee benefits 120 000 Income tax payable 35 000 Deferred tax liability 140000 Retained earnings, 30 June 2018 310000 Dividends paid 210000 Share capital 1137 000 Dividends reinvested 41000 Deferred cash flow hedge fequity) 65 000 $8324 000 $8324 000 CHAPTER 16 Presentation of financial statements 687