From the trial balance of Gremlins plc on 31 March 2010 identify the assets and expenses (debit balances) and income, liabilities, and equity (credit balances). Confirm that the trial balance is in balance, then prepare a balance sheet for Gremlins Ltd as of 31 March 2010.

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000 Depreciation on office equipment and furnishings (administrative expenses) 156 Bank overdraft 609 Accountancy and audit fees 30 Electricity paid in advance 45 Computer system (net book value) 441 Advertising and promotion 135 Share premium account 240 Interest received 15 Plant and equipment (net book value) 927 Amount for final payment on factory machine due March 2012 252 Accounts receivable 1,110 Goodwill 204 Twelve-year lease on factory 330 Rents received 63 Prepaid expenses 885 Interest paid 120 Office electricity 66 Retained earnings at 1 April 2009 513 Inventories of materials at 31 March 2010 585 Telephone 87