2.2 Capital allowances on implements, plant and machinery QUESTION Alex commenced trading on 1 January 2019. The trading results, as adjusted for taxation purposes, but before capital allowances, have been as follows: Jusmed alonewolls Indigen Period from: 1.1.18 to 31.12.19 Period from: 1.1.19 to 31.12.20 K65,000 K95,000 Transactions in non-current assets have been as follows: Acquisitions: Date 1.1.19 Asset Motor car 31.3.19 31.12.20 000.1 Fixtures and fittings General plant Cost K12,500 K10,500 K20,000 Required Calculate the taxable profits for the first two charge years of trading