30 88 Question 1 (25 marks) The trial balance below was extracted from the accounts system of Fibermoraplc at the year end. Trial Balance 31/8/2019 DEBIT CREDIT C000 Administration expenses 3,100 Bank Cash and cash equivalents 147 Corporation tax Debenture Interest Debentures 8% (due 2025) 1,200 Distribution expenses 1,935 Equipment (cost) 870 Equipment (accumulated depreciation) Fixed asset replacement reserve Interim dividend 470 Inventory 340 Profit Reserve Property 6,220 Plant (cost) 1,680 Plant (accumulated depreciation) Purchases 3,790 Revaluation reserve 370 Revenue 9,950 Share capital (Ordinary shares 500,000 @ C7 per share) 3,500 Share premium 1,760 Trade and other payables 320 Trade and other receivables 19,500 19,500 Additional Information: 1. A stock count valued inventory on the 31 March 2019 at 330,000. 2. Administration expenses prepaid at the end of year (31/3/2019) amounted to 650,000. 3. Distribution expenses due at the end of year (31/3/2019) amounted to 65,000 4. Depreciation should be provided on Equipment at 40% per annum reducing balance and on Plantat 10% per annum straight line 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)