The trial balance of Alfa shows the following balances at 31 December:

Additional information:

(1 )Inventories at 31 December 2021 were valued at $50,000.

(2) Depreciation charges (plant and equipment) for the year amounting to $27,000 and

$5,000 should be included in distribution costs and administrative expenses, respectively.

(3) The income tax rate is 20%.

(4) A final dividend of $0.50 per share was declared on 31 March 2022.

(5) There were no disposals of any non-current assets during the year. A delivery vehicle

was purchased on credit for $9,000 on 30 December 2021. No entries have yet been made

to record this.

(6) Insurance for delivery vehicles is to accrued as $2,000.

(7) Receivables totalling $20,000 are to be written off

(8) During the year the company issued a further 25,000 shares at $1.20. No entries have yet

been made to record this.

(9) Bonus for administration director for 2021 is evaluated as 1% of gross profit

(10) General reserve is to be increased by $10,000.

Required:

Prepare

a) a statement of profit or loss and other comprehensive income for the year ended 31

December 2021,

b) a statement of changes in equity for the year ended 31 December 2021,

c) a statement of financial position at that date,

d) notes, in accordance with IAS1 *Presentation of Financial Statements".

Your answer should be as complete and informative as possible within the limits of the

information given to you, An accounting policy note is also required,