The ledger balances of Outback Grande Ltd as at 30 June 2019 are shown below.

The following adjustments are yet to be taken into the accounts:

1. Inventory on hand at 30 June 2019 valued at $94 250.

2. Allowance for doubtful debts to be increased to $1625, which was the balance of the account on 1 July 2018.

3. It was discovered that $780 for office equipment had been charged in error to the purchases account on 1 July 2018.

4. Depreciation of delivery vehicles and office equipment for the current year to be at the rate of 20% p.a. on cost, and on buildings at 5% on cost.

5. Interest expense accrued $325.

6. Unexpired insurance, $130.

7. Declare a dividend to shareholders of $22 750 for the current year.

8. Transfer $6500 to general reserve and reduce goodwill by $13 000 because of impairment.

	oUTBACK GRANDE LTD Trial Balance as at 30 June 2019
		Debit			Credit
	Accounts receivable Accounts payable Advertising expense Stationery expenses Share capital Bills receivable Bank overdraft Delivery vehicles (at cost) Directors’ fees Discount allowed First call (25c per share) General expenses Goodwill (at cost) Income from investments Insurance expense Interest expense Investments (at cost) Land (at cost) Buildings (at cost) Electricity expense Maintenance of vehicles expense Office equipment (at cost) Petty cash advance Retained earnings (1/7/18) Accumulated depreciation – delivery vehicles – buildings Allowance for doubtful debts Current tax liability Purchases Sales Income tax expense Salaries expense – administrative Salaries expense – selling Inventory (1/7/18)	$	81 250 4 875 585 6 175 30 875 8 125 3 250 6 500 5 070 39 000 625 3 120 104 000 26 650 100 000 1 075 4 375 3 250 130 124 870 27 650 11 245 15 015    74 750		$	40 700 325 000 10 650 5 000 34 585 5 850 4 550 975 27 650 227 500
		$	682 460		$	682 460

Required

A. Prepare the statement of profit or loss and other comprehensive income for the year ended 30 June 2019 in accordance with the requirements of IAS 1/AASB 101.

B. Prepare the statement of financial position as at 30 June 2019 in accordance with the requirements of IAS 1/AASB 101.