The trial balance below relates to Honesty Commercial Bank as at 31^st December, 2017.

	Dr.	Cr.
	GH	GH
Interest income		4,950
Interest on customers deposits	850
Net fees and commission income		900
Gains on foreign currency		40
Dividend income		30
Operating expenses	2,400
Directors emolument	20
Auditors fees	40
Dividend paid (Note 6 )	20
Loan impairment provision as at 1st Jan 2017 (Note 4)		410
Rental income from investment property (Note 3)		90
Corporate current tax	100
Income surplus as at 1st Jan 2017		1,700
Capital surplus as at 1st Jan 2017		20
Statutory reserve as at 1st Jan 2017		640
Stated capital (50,000 equity shares) as at 1st Jan 2017		100
Cash on hand	340
Balance with the Bank of Ghana	3,050
Investment in government securities	10,900
Investment in listed financial institutions	160
Receivables from other banks	1,610
Payables to other banks		50
Overdraft, loans and advances	15,700
Sunday receivables and prepayments	500
Property, plant and equipment	1,240
Accumulated depreciation of PPE as at 1st Jan 2017 (Note 1)		390
Investment property (Note 3)	240
Customers deposits		24,550
Expense trade payables and accruals		3,300
Total	37,170	37,170

Notes

1. Property, plant and equipment as at 31^st December, 2016 was as follows:

	Cost	Acc. dep	Rate of depreciation
	GH000	GH000	GH000
Land and building	450	80	20% straight line per annum
Equipment	750	300	25% straight per annum
Motor vehicles	40	20	25% per annum line

The value of land and building at acquisition was GH450,000 (land 50,000 and building 400,000) on 1^st January, 2016. The company policy on depreciation does not cover land. The directors caused the property (land and building) to be revalued in 1^st January, 2017. The valuers assigned value of GH400,000 for both land and building but advised that the estimated remaining useful life should be maintained. The directors wish to incorporate this valuation in 2017 financial statement.

1. There was neither tax liability nor current tax asset as at 1^st January, 2017. During 2017, the company paid GH100,000 for corporate tax on interim assessment. The bank is subject to 20% corporate tax. The company adopts nil provision for deferred tax.
2. The investment property was acquired in January 2017. The rental income from the investment property GH90,000 relates to the three-year period ending 31^st December, 2019. The bank adopts fair value model in subsequent measurement of the investment property and fair value assessment at 31^st December 2017 puts the valuation at GH250,000.
3. Loan impairment provision at the end of the year as at 31^st December, 2017 is to be increased to GH510,000.
4. In compliance with the Banking Act 12.5% of profit after tax is to be transferred to statutory reserve.
5. On 15^th November, 2017 the directors paid an interim dividend of GH0.40 per share. No further dividend is recommended for the year.
6. In order to satisfy the Central Bank minimum stated capital requirement, the shareholders, at an emergency meeting on 24^th December, 2017 approved a bonus issue of one share for each one held (out of income surplus) to be credited at the current market price of GH5 per share. This decision is to be reflected in the 2017 financial statements.

Required:

Prepare the following financial statements of Kelewele Limited for publication in accordance with relevant legislations and international reporting standards (IFRS):

• Prepare the Statement of Comprehensive Income for the year ended 31^st December, 2017
• Prepare the Statement of Changes in Equity for the ended 31^st December, 2017
• Prepare the Statement of Financial Position as at 31^st December, 2017.