01 At 1.1.17. Company K's balance sheet showed the following: Cash Share capital 100,000 shares of 50p each50,000 Share premium Revaluation reserve Retained profits On that day, the company made a 3 for 2 bonus issue. After the transaction, these accounts were as follows: 16,000 30,000 37,000 40,000 Cash Share capital0,000 Share Revaluation reserve37,000 Rctained profits 40,000 b. 91,000 premium 30,000 16,000 Cash Share capital 125,000 Share premium Revaluation reserve Retained profits 32,000 Cash Share capital Share premium 16,000 125,000 Retained profits d. 16,000 Cash Share capital 125,000 Share premium 30,000 Revaluation reserve20,000 Retained profits 02 The following is an extract of balances for a company for the year: 19,000 27.000 Heat and I Rent paid Non-current assets (at cost)80,000 Gross profit has already been caleulated as being 665,000. Accumulated depreciation Depreciation is to be calculated at 25% on the reducing balance method. At the end of the year. heat and light accrued is 5,000, and rent prepaid is 3,000. The correct net profit for the year is: a. 2,000 b. E4,000 c. 19,000 d. 17,000 on the non-current assets at the start of the year was 20,000