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The trial balance below relates to Kelewele Limited for the year ended 3 1 st December, 2 0 1 6 . Trial balance as at

The trial balance below relates to Kelewele Limited for the year ended 31st December, 2016. Trial balance as at 31/12/2016 Dr. Cr. Gh000 Gh000 Inventory as at 1/1/2015700,000 Sales 8,400,000 Purchases 5,750,000 Buildings 750,000 Motor vehicles 600,000 Equipment 1,460,000 Provision for depreciation: Motor vehicle 150,000 Equipment 120,000 Return inwards 25,000 Return outwards 30,000 Trade receivable 880,000 Trade payable 450,000 Stated capital -1,000,000 ord. shares 2,000,000 Administrative expenses 140,000 Advertising & promotion 60,000 Wages and salaries 200,000 Electricity & water 15,000 Repairs & maintenance 20,000 Provision for Bad Debts 45,000 Discount allowed and rebate 35,000 Discount received 65,000 Rent & rates 16,000 Income surplus b/f 171,000 Cash & bank 850,00010% Debenture 70,00011,501,00011,501,000 Additional information: Closing inventory is Gh500,000 Closing provision for Bad debts to Gh50,000. Provision for depreciation is reducing balance method: 15% on Motor vehicle and 20% on equipment it is 20% Dividend proposed for the year is Gh500,000. Corporate tax is at the rate of 25%. Required: To prepare the Statement of Comprehensive Income for the year ended 31st December 2016 for Kelewele Limited. To prepare the Statement of changes in equity as at year end 31st December 2016. Prepare the statement of financial position of Kelewele Limited as at 31st December, 2016.

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