The following details are taken from the accounting records of Mercy Ltd as at 30 June 2016:
|Plant and equipment (net of depreciation)|
Buildings (net of depreciation)
Allowance for impairment of receivables
Goodwill (net of impairment)
Share capital (3200000 shares)
Income tax payable
(a) Profit for the year was $581000.
(b) Balance of retained earnings at 1 July 2015 was $80000.
(c) During the year $30000 was transferred from retained earnings to general reserve.
(d) A final dividend of 8c per share has been declared by directors and is not subject to shareholders’ approval.
Prepare the statement of financial position and statement of changes in equity to comply with AASB 101. Include Notes to the accounts for the above financial statements
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