Destitute Foundation Ghana (DFG) is a Non-Governmental Organisation established in 1980 with the mission of protecting and securing the economic and social interest of the underprivileged and vulnerables. Below is the trial balance as at 31 December, 2016.

Additional Information:
i) It is the policy of management to prepare financial statements on modified accrual basis.
ii) The current chart of accounts of DFG has seven items of expenditure: compensation of employees, Administration and general expenses, Finance cost, Legal cost, Capital assets, Project cost and other expenses.
iii) Under the current chart of accounts income is classified as fund-raising, Grants/ supports, and Fees and charges.

Required:
a) Prepare Statement of Income and Expenditure for the year ended 31 December 2016, suitable for publication.          (8 marks)

b) Prepare Statement of Financial Positon as at 31 December 2016.                                                                                  (8 marks)

c) Disclose relevant notes to the accounts.                                                                                                                          (4 marks)