Wreck Bay Aboriginal Community Council

ABN: 62 564 797 956

Statement of Changes in Equity

for the period ended 30 June 2020

Note

2020

2019

RETAINED EARNINGS

$

$

Opening balance

Balance carried forward from previous period

25,760,739

25,530,242

Adjusted opening balance

25,760,739

25,530,242

Comprehensive income

Surplus/(Deficit) for the period

(523,949)

(69,503)

Other comprehensive income

-

300,000

Total comprehensive income

(523,949)

230,497

Closing balance as at 30 June

25,236,790

25,760,739

ASSET REVALUATION RESERVE

Opening balance

Balance carried forward from previous period

32,309,832

31,262,507

Comprehensive income

Other comprehensive income

-

1,047,325

Total comprehensive income

-

1,047,325

Closing balance as at 30 June

32,309,832

32,309,832

TOTAL EQUITY

Opening balance

Balance carried forward from previous period

58,070,571

56,792,749

Adjusted opening balance

58,070,571

56,792,749

Comprehensive income

Surplus/(Deficit) for the period

(523,949)

(69,503)

Other comprehensive income

-

1,347,325

Total comprehensive income

(523,949)

1,277,822

Closing balance as at 30 June

57,546,622

58,070,571

The above statement should be read in conjunction with the accompanying notes.