30 340 Question 1 (25 marks) The trial balance below was extracted from the accounts system of Fibermore plc at the year end. Trial Balance 31/3/2019 DEBIT CREDIT C'000 C'000 Administration expenses 3,100 Bank TiaaviU JASOOJ Cash and cash equivalents 2 T I VO Corporation tax Debenture interest Debentures 8% (due 2025) 1,200 Distribution expenses 225 1,935 ELLER Equipment (cost) 870 Equipment (accumulated depreciation) n a COET Fixed asset replacement reserve Interim dividend 470 Inventory Profit Reserve 525 Property entOS VOITAVIMAXE JAV012212 6,220 Plant (cost) 1,680 Plant (accumulated depreciation) 835 Purchases A final 3,790 Revaluation reserve 370 Revenue 9,950 Share capital (Ordinary shares 500,000 @ 7 per share) 3,500 Share premium 1,760 Trade and other payables 320 Trade and other receivables 830 19,500 19,500 Additional Information: PER 1. A stock count valued inventory on the 31 March 2019 at C330,000 2. Administration expenses prepaid at the end of year (31/3/2019) amounted to 50,000. 2 (90) Nha WWEI. 3. Distribution expenses due at the end of year (31/3/2019) amounted to 665,000. 4. Depreciation should be provided on Equipment at 40% per annum reducing balance and on Plant at 10% per annum straight line 5. Any outstanding debenture interest is to be provided for. 6. Additional corporation tax of 60,000 is to be provided for. 7. Property was re-valued by an independent valuation and certified at 6.5 million at the year end. 8. A transfer of 120,000 to the asset replacement reserve is to be made. 9. A final ordinary share divided of 0.40 cents per share will be proposed at the AGM. Required a) A Statement of Profit or Loss for year ending 31/3/2019 b) A Statement of Financial Position as at 31/3/2019 c) A Statement of Changes in Equity 31/3/2019 (10 marks) (10 marks)