The following is the trial balance of Ngwenya Ltd. The company has a 31 December year end.

The information will be used to prepare statement of financial position

Ngwenya Ltd

Trial balance as at 31 December 2022

Dr Cr

R R

Advertising costs 29 600

Delivering costs 44 200

Income tax expense 687 190

Profit on expropriation of land 100 000

Dividends paid 160 000

Dividends received 14 000

Rental received 6 000

Share of profit of associate 300 000

Impairment loss 12 000

Cost of Sales 2 093 200

Non – controlling interests in profit for the year 90 200

Interest paid 66 600

Salaries : Administrative personnel 187 600

: Sales Agent 168 400

Stationery 22 000

Sales 4 022 400

Depreciation : Delivery Vehicles 53 400

: Office Buildings 16 400

Bank 805 010

Investment in associate / Joint venture 586 000

Debtors 90 000
Property, plant and equipment 550 000

Goodwill 96 000

Investments in equity instruments 113 600

Other tangible assets 50 000

Creditors 51 000
Current portion of long term borrowings 40 000

Non-controlling interests 189 450

Long –term borrowings 404 000

Retained earnings (01/01/2022) 600 000

Revaluation surplus 32 750

Revaluation surplus (Associates) 10 000

Cash flow hedge reserve 28 400

Issued ordinary share capital 200 000

Deferred tax 3 000

Preference share capital 110 000

Inventories 189 600

First calculate that debit and credit are equal before attempt

Required

Prepare a statement of profit or loss and comprehensive income, statement of changes in equity
and statement of financial position for the year ended 31 December 2022.