The following is the trial balance of Kwei Limited, a dealer in Oracle Software, as at 31" December, 2016. GHe 243,750 GH 490,500 221,500 60,000 10,000 51,000 Purchases and Sales Ordinary shares (GHC1.00 per share) Retained carnings Revaluation Reserve Trade Receivables and Payables Inventory Land and building (cost) Delivery Vans: (cost) Accumulated depreciation (31" December, 2015) Plant and Equipment: (cost) Accumulated depreciation (31" December 2015) Administrative expenses Selling and Distribution expenses Investment property Investment income Cash and cash equivalents Dividend paid 159,000 99,000 125,000 105,500 32,500 90,000 37,500 26,000 27,500 100,000 35,000 27,000 1,750 Provision for doubtful debts 14,000 Bad debts 17,500 Suspense 70,000 L.022.000 1.022.000 Additional information available is given below: 1) The inventory at cost on 31" December, 2016 was valued at GH137,500 and the net realizable value was GHE129,500. 2) Allowance for doubtful debt is to be increased to GHe 19,080 as at 31 December 2016. 3) An amount of GH6,000 in respect of rent and rates is included in administrative expenses. This amount relates to 2017 financial year. 4) Depreciation for the year, ended 31" December 2016 is to be calculated using the following rates: Plant and equipment Delivery Vans Administrative expense Distribution cost. 10% on cost 1% on cost 5) To reflect a marked increase in property prices, Kwei Limited accepted the report of an independent surveyor who valued the land and building up by GHe15,000 on that on 31" December 2016. 1) The audit fee of GH1,000 is to be accrued. 2) The suspense account represents the corresponding credit for cash received for a fully subscribed issue of equity shares made on 30h December 2016. The terms of the share issue was 35,000 new ordinary shares were issued at GH2 each. 3) The directors have estimated the provision for income tax for the year ended 31" December 2016 at GH15,000. Required: In compliance with the Companies' Code provisions and in conformity with relevant International Financial Reporting Standards, prepare for publication3; the statement of profit or loss and other comprehensive income for the year ended 31" (i) December, 2016. the statement of changes in equity for the year ended 31 December, 2016. the statement of financial position as at 31* December, 2016. (ii) (ii)