A junior accounts clerk has prepared the following summari

A junior accounts clerk has prepared the following summarised information as at 30 June 2016 for Heaven Ltd: Assets Inventories (at lower of cost and net realisable value) Accounts receivable Cash Land and buildings Plant and equipment Prepayments Calls in arrears (2500 shares at 20c) Patents cost $970000 651020 1598080 1750000 1716000 3400 500 100000 $6789000 Liabilities and equity Retained earnings (30/6/16) Liabilities Share capital (5000000 shares) Reserves and provisions 575480 1038520 4086000 1089000 $6789000 Upon further investigation you have discovered the following additional information: (a) Liabilities of $1038520 comprise: Accounts payable Accrued expenses Mortgage loans $790000 8520 240000 (b) Reserves and provisions of $1089000 include: Employee benefits (payable after 1 July 2023) Current tax liability Dividends Allowance for impairment of receivables Accumulated depreciation plant and equipment Accumulated depreciation buildings Accumulated amortisation patents $400000 160000 200000 10000 72000 207000 40000 (c) Cash of $1598080 consists of: Cash at bank 10% Telstra bonds (regarded as long-term investments) $298080 1300000 (d) Retained earnings balance as at 1 July 2015 was $275000. (e) Profit for the period was $500480. (f) Shareholder approval is not required for final dividends declared by directors. (g) During the year Earth Ltd paid $75000 to its auditor of which $19000 related to services other than the annual audit and half-yearly review. Required Prepare for Heaven Ltd the statement of financial position statement of changes in equity and notes thereto at 30 June 2016 in accordance with the requirements of AASB 101.