Corporation tax for the tax years 2010,2011 , and 2012 was $40 \%$ and income tax for each year was $20 \%$.

(A) Tilt Ltd's draft income statement for the year ending 31 December 2011 shows a net trading profit from operations of $£ 600,000$. This figure is before taking into account (B) and (C1) and (C2).

(B) Loan-note interest paid on 5 December 2011 (gross) was $£ 100,000$. Ignore accruals.

(C1) Fixed rate interest received is $£ 60,000$ (net). Date received 9 November 2011. Ignore accruals.

(C2) A dividend of $£ 1,000$ was received from Diamond Ltd on 1 October.

(D) Depreciation was $£ 90,000$. This compares with $£ 130,000$ capital allowances given by Revenue and Customs. There is to be full provision for all timing differences for 2011.

(E) The income tax bill (net) in respect of (B) and (C1) was paid on 19 December 2011.

(F) Preference dividend paid on 6 July $2011 £ 16,000$.

(G) Ordinary interim dividend paid 8 August $2011 £ 90,000$.

(H) Proposed final ordinary dividend for 2011 (paid in 2012) was $£ 150,000$.

(I) Proposed final ordinary dividend for 2010 (paid 10 March 2011) was $£ 120,000$.

(J) There was a credit balance on the deferred taxation account at 31 December 2010 of $£ 85,000$.

(K) Tax for 2010 had been provided for at $£ 140,000$ but was finally agreed at $£ 136,000$ (paid on 6 October 2011).

(L) Corporation tax for 2011 is estimated to be $£ 170,000$.

You are required to enter up the following accounts for the year ended 31 December 2011 for Tilt Ltd: Deferred tax; Income tax; Interest receivable; Loan-note interest; Investment income; Corporation tax; Preference dividends; Ordinary dividends; Income statement extract. Also prepare the relevant statement of financial position extracts as at 31 December 2011.