The summarised balance sheet of Smith-Patel Ltd at 31 March 20*8 is given. On 1 April 20*8

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The summarised balance sheet of Smith-Patel Ltd at 31 March 20*8 is given.

On 1 April 20*8 Smith-Patel Ltd issued a further 200,000 £1 ordinary shares at £1.50. On the same date the company revalued the non-current assets at £750,000.


Required

Prepare a summarised balance sheet at 1 April 20*8 after the revaluation of non-current assets and the share issue.

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