The following is an extract from the trial balance of Tiger plc at 31 January 2015.

Additional Information:

• Inventory at 31 January 2015 was valued at $110 000.

• Depreciation is to be provided as follows:

• Plant and machinery: 10 per cent per annum on a straight-line basis, charged to cost of sales.

• Motor vehicles: 25 per cent per annum on a reducing-balance basis charged to administrative expenses.

• The interest on the 6 per cent debenture has been pad up to 31 July 2014.

• The preference share dividend is paid in two equal instalments. The preference share dividend for the six months ended 31 January 2015 has not yet been paid.

• The directors have recommended an ordinary share dividend of $0.10 per share.

Required

Prepare an income statement for Tiger plc for the year ended 31 January 2015.

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Dr ($000) Cr (S000) 1 527 Revenue Purchases 615 Inventory at 1 February 2014 102 Distribution costs 38 Administration expenses 68 Finance costs 115 Plant and machinery: cost Plant and machinery provision for depreciation 120 72 Motor vehicles: cost 160 40 Motor vehicles: provision for depreciation Ordinary share dividend paid 60 6% debenture 80 Issued ordinary shares of $0.50 each 100 8% preference shares 50