Consider the following data being taken out of the trial balance of GPA Ltd. as at 31 March 2017:

                                Total

1,808,544

1,808,544

The following additional information relating to GPA Ltd. is also available:

1. Stock at 31 March 2017 was valued at $59,200.
2. Machinery costing $43,600, which $28,280 depreciation had been provided, was sold for $21,560 during the year. This transaction has not been recorded because the proceeds of sale has not yet received at year end.
3. There was no purchase of fixed assets during the year. Depreciation on motor vehicles and machinery are provided on straight-line basis on cost at the rate of 10% p.a. and 5% p.a. respectively.
4. Accrued Rates amount of $5,680 and prepaid insurance $9,800 were in the year.
5. The estimated tax expenses for the year amounting to $6,540.
6. The directors have decided to increase the general reserve up to $90,000 in total.

REQUIRED:

Prepare a Statement of profit or loss and other comprehensive income for the year ended 31 March 2017, a Statement of changes in equity and a Statement of financial position as at that date.