1. The following balances have been extracted from the books of XYZ Co.Ltd on 31 March 2023. From them draw up (i) a detailed statement of profit or loss for internal use, for the year ending 31 March 2023, also (ii) a statement of profit or loss for publication for the year to that date. Amount in Purchases Revenue Returns inwards Returns outwards Discounts allowed Discounts received Inventory 1 April 2021 Wages and salaries: Sales and distribution Wages and salaries: Administrative Motor expenses: Sales and distribution Motor expenses: Administrative General distribution expenses General administrative expenses Directors' remuneration Retained profits 1 April 2021 Advertising Hire of plant and machinery (see Note (b)) Rent and business rates (see Note (c)) Motor vehicles at cost: Sales and distribution Motor vehicles at cost: Administrative Loan-note interest payable Income from shares in group entities Preference dividend paid Ordinary dividend paid 1,750,000 2,250,000 50,000 57,000 12,000 25,000 325,000 52,000 42,000 16,000 8,000 5,000 7,000 18,000 125,000 25,000 18,000 25,000 65,000 18,000 5,000 25,000 5,000 1,000 Notes: (a) Inventory at 31 March 2022 435,000. (b) The hire of plant and machinery is to be apportioned: distribution 12,000, administrative 3,000. (c) Rent and business rates to be apportioned: distribution 1/4, administrative 3/4. (d) Motors are to be depreciated at 25 % on cost (e) Auditors' remuneration of 20,000 to be accrued. (f) Corporation tax on profit from ordinary activities for the year is estimated at 32,000 (g) Transfer 50,000 to general reserve

1. The following balances have been extracted from the books of XYZ Co.Ltd on 31 March 2023. From them draw up (i) a detailed statement of profit or loss for internal use, for the year ending 31 March 2023, also (ii) a statement of profit or loss for publication for the year to that date