Question 1 Required a) Calculate earnings per share for the year ended 31St December 2016 (20 marks) b) Adjust earnings per share for 2015 Question 2 Show how the change in accounting policy will be reflected in the statement of profit or loss and other comprehensive income, and the statement of changes in equity for the year ended 31 December 2016 (15 marks ) Show the 2016 Statement of profit or loss and other comprehensive income with comparatives after the error has been corrected. (10 marks) Question 3 Required: (a) Calculate the employee benefit expense to be recognised in profit or loss (5 marks) (b) Calculate the re-measurement of the net defined liability /asset to be recognised in other comprehensive income (4 marks) (0) Prepare the journal entries for the defined benefit plan for the year ended 31 December 2016. Question 4 Required: Prepare journal entries to record all matters relating to the acquisition and payment of the inventory assuming that: (i) Payment for the inventory was made on 31 December 2015 (6 marks) (ii) Payment for the inventory was made on 1 March 2016 ( 8 marks) (b) Discuss the differences between transaction risk , translation risk and economic risk ( 6 marks ) (0) Explain how inflation rates can be used to forecast exchange rates (5 marks)