SECTIONA

Instruction: Complete ALL questions from this section.

The trial balance of Garden PLC$,$ a limited liability company, at $31$ May $2021$ was as follows:

Table $1.$

Additional information as at $31$ May $2021$ ;

i$.$ Closing inventory is valued at $$1,120,000.$

ii$.$ Heating and Lighting is prepaid by $$40,000.$

iii. Debenture interest has not been paid during the year.

iv$.$ The allowance for doubtul debts is to be decreased to $$40,000.$

v$.$ Plant is depreciated at $20\%$ per annum using the redacing balance method. The entirc

charge is to be allocated to cost of sales.

vi$.$ Buildings are depreciated at $5\%$ per annum on their original cost, allocated $25\%$ to

cost of sales, $50\%$ to distribution costs and $25\%$ to administrative expenses.

vii. Oa $31$ May $2021,$ Buildings were revalued at $$2,500,000$

vii. The directors have agred a transfer of $$35,000$ to the general reserve from profits for

the period.

ix$.$ Tax has been calculated as $$140,000$ for the year.

x$.$ The expenses listed below should be apportioned as indicated:

Table $2.$

Required:

A$.$ Prepare, for external use, Ganden's statement of comprehensive income for the year

ended $31$ May $2021$ in accordance with IAS $1$ Presentation of Financial Statements.