1. The following list of balances for the year ended 31 December 2021 has been extracted from the nominal ledger of Touri plc. Revenue Production costs Administrative expenses Other operating costs Finance costs Property, plant and equipment Inventories Trade and other receivables Cash and cash equivalents Ordinary share capital Revaluation surplus Retained earnings at 1 January 2021 5% redeemable preference shares Trade and other payables 774,000 329,600 152,600 21,300 30,650 881,600 15,900 52,500 28,200 135,000 150,500 159,050 240,000 53,800 To prepare the financial statements the following additional information is provided: 1. On 1 January 2021 Touri plc issued 240,000 5% 1 redeemable preference shares at par. The preference shares are redeemable in 2026 at a premium of 10%. The dividends due for the year on the preference shares had not been accrued at 31 December 2021, although they were paid shortly after the year end. The effective interest rate of the preference shares is 6.42% pa. On 1 October 2021 Touri plc made a 1 for 5 bonus issue of 1 ordinary shares, utilising retained earnings. No accounting entries have been made for this, although the correct number of shares were issued. 2. The following information relates to Touri plc's property, plant and equipment. Cost Accumulated depreciation at 31 December 2020 Freehold land and buildings Plant and machinery 872,000 37,500 76,900 29,800 No depreciation has currently been charged for the year ended 31 December 2021. 3. Touri plc's policy is to depreciate plant and machinery at 15% pa on cost. On 1 January 2021 a new machine was acquired for 7,000 and correctly included in the cost of plant and machinery. This machine includes integrated tools that have to be replaced every three years at a cost of 1,200. Depreciation on plant and machinery should be presented in cost of sales. 4. Touri plc uses the revaluation model for land and buildings. The buildings were acquired on 1 January 2015 and have a total useful life of 50 years. Depreciation on buildings should be presented in other operating costs. The balance of 872,000 (land 300,000, buildings 572,000) represents the latest valuation on 1 January 2021, the previous valuation being 842,000. The only entry made