1. Ella has been running a yoga school as a sole trader for several years. During the pandemic her trading results suffered and she closed the business on 31st July 2020. Her recent results are as follows: Year ended 31 January 2019 Year ended 31 January 2020 45,000 20,000 Seven months ended 31 July 2020 (35,000) She has overlap profits of 2,500. Required: Calculate Ella's terminal loss and show how it may be relieved. (6 marks)