You are given the following selected balances of Federal plc as at 31 December 19X4.

From them draw up (i) a trading and profit and loss account for the year ended 31 December 19X4 for internal use and (ii) a profit and loss account for publication.

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Stock 1 January 19X4 Sales Purchases Carriage inwards Returns inwards Returns outwards Discounts allowed 64,500 849,000 510,600 4,900 5,800 3,300 5,780 Discounts received Wages (putting goods into saleable condition) 6,800 11,350 General administrative expenses Salaries and wages: Sales and distribution staff Salaries and wages: Administrative staff Motor expenses (see note (c)) Rent and rates (see note (d)) Income from shares in related companies General distribution expenses Bad debts Interest from government securities Haulage costs: Distribution Profit and loss account: 31 December 19X3 29,110 20,920 15,600 25,000 Investments in related companies (market value 66,000) 80,000 3,500 8,220 2,190 840 1,600 2,070 Debenture interest payable 3,800 37,470 Motor vehicles at cost: Distribution and sales 75,000 Administrative 35,000 Plant and machinery at cost: Distribution and sales 80,000 Administrative 50,000 Production 15,000 Directors' remuneration 5,000