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1.b) The following balances remained in the ledger of Gaysop Limited after the preparation of the income statement for the year ending 31 March 2015.

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1.b) The following balances remained in the ledger of Gaysop Limited after the preparation of the income statement for the year ending 31 March 2015. (15) Inventory Accounts receivable Ordinary share capital Share premium Accounts payable Balance at bank Revaluation reserve Retained earnings Net profit for the year to 31 March 14 Non-current assets at cost, less depreciation Tax liability Long term loan The directors propose: P8,134 P6,468 P8,000 P1,000 P5,601 P579 P2,000 P28.887 P4,377 P44,626 P1,382 P10,000 i) There were no transfers to general reserve ii) Payment of dividends were as follows: Interim dividend P480 and Final dividend for 2014, P960 Required: Prepare a statement of financial position as at 31" st March 2015

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