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Following information is available for the year 2020 of ABC SAOG. You are required to...

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Accounting

Following information is available for the year 2020 of ABC SAOG. You are required to prepare Statement of comprehensive income and Statement of financial position.

Share premium 728,526
Legal reserve 1,134,166
Revaluation reserve 14,644,500
Trade and other payables 10,020,506
Taxation payable 238,108
Directors remuneration 54,000
Taxation expenses 384,036
Property, plant and equipment 20,226,258
Revenue 43,627,562
Cost of sales 30,950,720
Finance costs 452,636
Administrative and general expenses 2,072,896
Other operating income 74,020
Inventories 6,705,426
Trade and other receivables 10,348,144
Assets held-for-sale 11,571,592

Cash and bank balances 1,291,814
Retained earnings (opening) 6,131,332
Long term loans 7,080,676
Share capital 3,402,500
Selling and distribution expenses 8,092,802
Current portion of long term loans 1,496,136
Short term borrowings 3,572,292

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