The trial balance of Garden PLC$,$ a limited liability company, at $31$ May $2021$ was as follows:

Table $1.$

Dr Cr

$$,000$ $$,000$

Revenue $7,000$

Discounts received $160$

Discounts allowed $140$

Bank $294$

Buildings at cost $2,080$

Buildings $-$ accumulated depreciation, $1$ June $2021320$

Plant at cost $2,400$

Plant $-$ accumulated depreciation, $1$ June $2021800$

Land at cost $690$

Purchases $4,340$

Returns inwards $30$

Returns outwards $34$

Heating and lighting $540$

Administrative expenses $120$

Trade payables $2,060$

Trade receivables $1,400$

Carriage inwards $210$

Wages and salaries $500$

$10\%$ Debentures $1,160$

General Reserve $70$

Allowance for doubtful debts, $1$ June $202160$

Directors' remuneration $120$

Retained earnings, $1$ June $2021230$

$$1$ Ordinary shares $1,600$

$1$ June, $20041,030$

Share premium $400$

$13,89413,894$

ACCT$3801$

$04/12$ The Council of Community Colleges of Jamaica Page $3$

Additional information as at $31$ May $2021$:

i$.$ Closing inventory is valued at $$1,120,000.$

ii$.$ Heating and Lighting is prepaid by $$40,000.$

iii. Debenture interest has not been paid during the year.

iv$.$ The allowance for doubtful debts is to be decreased to $$40,000.$

v$.$ Plant is depreciated at $20\%$ per annum using the reducing balance method. The entire

charge is to be allocated to cost of sales.

vi$.$ Buildings are depreciated at $5\%$ per annum on their original cost, allocated $25\%$ to

cost of sales, $50\%$ to distribution costs and $25\%$ to administrative expenses.

vii. On $31$ May $2021,$ Buildings were revalued at $$2,500,000$

viii. The directors have agreed a transfer of $$35,000$ to the general reserve from profits for

the period.

ix$.$ Tax has been calculated as $$140,000$ for the year.

x$.$ The expenses listed below should be apportioned as indicated:

Cost of Sales Distribution

Costs

Administrative

Expenses

Discounts allowed and received $100\%$

Heating and lighting $40\%20\%40\%$

Wages and salaries $50\%25\%25\%$

Table $2.$

Required:

A$.$ Prepare, for external use, Garden$$s statement of comprehensive income for the year