The Faith Rural Bank ltd has presented the following trial balance for the 2011 financial year: GH₵‘000 GH₵’000 Operating expenses 987.00 Donations 24.00 Staff cost 2,213.00 Directors remuneration 39.00 Capital work-in-progress 168.00 Motor Vehicles/ Accumulated depreciation 327.00 182.00 Equipment & furniture / Accum. Depreciation 588.00 163.00 Computers/Accum. Depreciation 390.00 133.00 Land and Building / Accum. Depreciation 776.00 83.00 Corporate tax 180.00 Sundry payables 763.00 Interest from short funds 243.00 Interest from Government securities 7,137.00 Interest on loan and advances 373.00 Other accounts 789.00 Staff advances 449.00 Loans and Overdrafts granted 8,233.00 Income surplus 01/01/2011 1,146.00 Allowance for doubtful debts 01/01/2011 614.00 Statutory reserves 01/01/2011 648.00 Capital surplus 410.00 Trade investment 1,343.00 Government Treasury Bills 19,593.00 Interest on customer’s deposits 3,515.00 Amounts due to other banks 3,871.00 Deposits with other banks 12,794.00 Cash in hand 1,629.00 Balance with other banks 4,666.00 Stated capital 4,823.00 Current Accounts 22,767.00 Fixed / Time deposits 3,582.00 Savings accounts 7,819.00 Profit on foreign exchange transaction 141.00 Dividend from investment 55.00 Miscellaneous income 2,328.00 Commission and fee income 1,388.00 Share deals 34.00 TOTAL 58,703.00 58,703.00 ADDITIONAL INFORMATION; a) Increase allowances for doubtful debts to GHc851,700.00 b) Provide for depreciation at the following rates: Land and Buildings 5% on cost Equipment and Furniture 20% on cost Computers 33 ½ % on cost Motor vehicles 33 ½ % on cost c) Provide for Audit fees of GHc60,000.00 d) Transfer 12 ½ of net profit after tax to Statutory Reserve Fund. e) The corporate tax provision made in the 2010 financial statements was GHc200,000.00. This was agreed with Ghana Revenue Authority at GHc220,000.00 and fully settled in March 2011. Interim tax for 2011 based on self-assessment was settled at GHc160,000.00. Corporate tax applicable to bank is 25%. f) Directors have agreed to pay end-of-year bonus to staff estimated at GHc72,00.00. This is yet to be paid. g) The authorized capital is 10,000 equity shares of no par value out of which 6,000 shares have been issued and fully paid. REQUIRED; a) Statement of comprehensive income for the year ended 31st December, 2011. b) Statement of changes in equity for the year ended 31st December, 2011 c) Statement of financial position as at 31st December,2011 Notes are not required but show all workings