QUESTION 6 TOTAL 9 MARKS You are provided with the following financial statements for Status Quad Ltd. Balance Sheet as at 30th June 20x8 (with comparatives) Profit or Loss Statement for the year ended 30th June 20x8 Statement of Comprehensive Income for the year ended 30th June 20x8 Other information: Transaction costs for the share issue made during 20x7/X8 were $27,000 Required Use the information in the financial statements provided for Status Quad Ltd to complete the template, provided at the end of this question, for the Statement of Changes in Equity for the year ended 30th June 20X8. 9 marks BALANCE SHEET FOR STATUS QUAD LTD AS AT 30TH JUNE 20X8 $ 20x7 $ 20X8 IN THOUSANDS OF DOLLARS ASSETS CURRENT ASSETS Cash Inventories Accounts receivable (net) TOTAL CURRENT ASSETS 33 182 62 352 688 380 1,420 277 NON CURRENT ASSETS Land Buildings (net) Machinery (net) Goodwill TOTAL NON CURRENT ASSETS TOTAL ASSETS 550 492 85 200 1,327 1,604 5602 5112 52 3204 1,443 2,863 LIABILITIES CURRENT LIABILITIES Accounts payable Income tax payable Provisions TOTAL CURRENT LIABILITIES 42 83 36 161 79 183 24 286 CURRENT LIABILITIES Accounts payable Income tax payable Provisions TOTAL CURRENT LIABILITIES 42 83 36 161 79 1834 24- 286 NON CURRENT LIABILITIES Loans Mortgages TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES 225 160 385 546 213e 260- 473 759 NET ASSETS 1,058 2,104 OWNERS' EQUITY Issued capital Reserves Retained profits TOTAL OWNERS' EQUITY 261 106 691 1,058 426- 257 1,421 2,104 tt STATEMENT OF COMPREHENSIVE INCOME FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20x8 802 962 IN THOUSANDS OF DOLLARS Net profit for period Other comprehensive income (net of tax) Gain on revaluation of non-current asset Exchange differences on foreign operations Other comprehensive income for period, net of tax Total comprehensive income for the period attributable to the owners (17) 79 881 Complete this Template STATEMENT OF CHANGES IN EQUITY FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20x8 IN THOUSANDS OF DOLLARS SHARE CAPITAL COST OF SHARE CAPITAL GENERAL RESERVE RETAINED PROFITS TOTAL EQUITY FOREIGN CURRENCY TRANSLATION RESERVE ASSET REVALUATION SURPLUS RESERVE Balance at 1" July 20x7 Total Comprehensive Income for periode Profit for periode D] Exchange differences on foreign operations Gain/(Loss) on revaluation of non-current assete Total Comprehensive Income for periode El el 1 P H G Sub-totale PI P Transactions with owners recorded directly in equity Sub-totale Il Transactions with owners recorded directly in equity A H] el el H el Transfer to General Reserved Issue of ordinary sharese Transaction costs for share issue Total transactions with owners recorded directly in equity Balance at 30 June 20x8 P 478 (52) 6 1422 109 1,421 2,104