A business paid a £720 subscription to a trade magazine on 30 June 2013, for the two years to 1 July 2015. The business’s financial year ends on 30 November 2013. What relevant figures for subscriptions will be shown in the financial summaries for that period?

(a) £150 in the income statement, £570 prepayment in the statement of financial position

(b) £720 in the income statement, nil in the statement of financial position

(c) £360 in the income statement, £360 prepayment in the statement of financial position

(d) £1,440 in the income statement, £720 prepayment in the statement of financial position