1. Sparky Fireworks Ltd. The financial controller of Sparky Fireworks Ltd. has extracted the following trial balance from the ledger as at 31 March 2016. Trial Balance as at 31 March 2016. Dr Cr E000 E000 lssued equity shares E1 1,000 8% irredeemable preference shares of 1 200 Trade receivables and trade payables 6,500 2,450 Bank 350 1,340 Inventory as at 1 April 2015 5% Loan notes 400 14,750 Sales Interest income 35 Loan note interest (6 months to 30 September 2015) 10 Admin and general expenses, excluding salaries 1,230 Admin salaries 640 Distribution expenses 1,120 Purchases 7,530 Salaries associated with manufacture of goods 370 Directors remuneration Motor expenses 65 Carriage inwards 40 Property costs 330 Allowance for irrecoverable debts 260 Goodwill 1,050 Freehold land, at cost 780 Motor vehicles, at cost 840 Equipment, at cost 930 Accumulated depreciation motor vehicles 520 Accumulated depreciation equipment 610 Retained earnings 3,120 23,345 23,345 The following items have not yet been adjusted for i. The year end inventory count valued inventory at 1,980,000 (31 March 2016) ii. The company's depreciation policy is as follows: a. Motor vehicles 25% straight-line (nil residual value) b. Equipment 20% reducing balance c. Freehold land 0% Question continues overleaf