The following is the trial balance of L. Johnson Ltd as at 31 December 20X9:

Additional information
1. Corporation tax of £2,544 will be payable on the profit of 20X9.
2. Rates include £200 for the half year ended on 31 March 20Y0.
3. Electricity for the quarter to 31 January 20Y0 of £330 is not included in the trial balance.
4. The allowance for irrecoverable receivables is to be adjusted to 5 per cent of the trade receivables at the end of the year.
5. Annual depreciation on the reducing balance method is 25 per cent of vehicles, 20 per cent of plant and 10 per cent of development costs. The value of goodwill did not fall below the value recorded in the trial balance. The company does not depreciate buildings.
6. Inventory at 31 December 20X9 was £12,456.
7. It is proposed to pay a final dividend on the equity shares of 6.25 pence per share.
8. The directors have decided to transfer £4,000 to the revenue reserve this year.
9. The debenture interest for the year and the final dividend on the preference shares are outstanding at the end of the year.

Required
Prepare in publishable form a statement of comprehensive income and a statement of changes in equity for the year ended 31 December 20X9, and a statement of financial position at that date.

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Issued and called-up capital: 80,000 equity shares 50,000 5% preference shares Freehold buildings (at valuation) Motor vehicle (cost £35,000) Plant and machinery (cost £40,000) Development costs (cost £10,000) Interim dividend on preference shares Allowance for irrecoverable receivables Wages and salaries Irrecoverable receivables Discount allowed/received Goodwill Listed investments Purchases/sales revenue Capital redemption reserve Revaluation reserve Formation expenses Directors' emoluments Returns inwards/outwards Rates Dividends received Retained earnings Light and heat Audit fee Revenue reserve Share premium 10% debentures Inventories Trade receivables/trade payables Bank overdraft Debit £ 137,000 29,400 32,950 6,600 1,250 5,948 656 492 10,000 4,873 78,493 250 13,000 1,629 596 1,028 764 9,436 11,600 345,965 Credit £ 80,000 50,000 860 396 130,846 9,000 13,500 1,834 310 3,126 8,400 5,600 30,000 8,450 3,643 345,965