Statement of profit or loss and other comprehensive income, statement of financial position and retained earnings Non-GST version The trial balance of Arrogate Ltd at 30 June 2025 was as shown below. 

Required

(a) Prepare a statement of profit or loss and other comprehensive income for Arrogate Ltd for the year ended 30 June 2025, according to the requirements of IAS 1/AASB 101.

(b) Prepare a statement of financial position at 30 June 2025 to comply with IAS 1/AASB 101.

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ARROGATE LTD Trial balance as at 30 June 2025 Share capital (ordinary shares issued at $2, fully paid) Debit Credit $ 200 000 General surplus 25 000 Retained earnings 73 400 Revaluation surplus 85 000 Mortgage loan (secured over land and 250 000 buildings) Bank overdraft (at call) 80 900 7% debentures 80 000 Interest payable 2 800 Accounts payable 87 900 Dividend payable 10 000 Employee benefits payable 34 200 Allowance for doubtful debts 12 800 Accumulated depreciation - plant and 42 500 equipment Accumulated impairment losses-goodwill 10 000 Cash at bank Accounts receivable Inventory $10 500 67 800 87 700 Prepaid insurance 7 000 Plant and equipment 222 500 Land 220 000 Buildings 380 000 Goodwill 50 000 Government bonds (long-term) 35 000 Shares in McCaw Ltd 20 000 Sales revenue 825 000 Cost of sales General expenses 450 000 265 000