a) Recycled Plastics Ltd is a company with the following capital structure: Authorised Issued share capital share capital P e Ordinary shares of P1 100000 50000 5% Preference shares of P1 100000 80000 There were no changes to the number of shares in issue during the year. The retained earnings brought forward on 1 May 2014 were P8000. During the year ended 30 April 2015, the company made a profit of P40 000. On 30 April 2015 it was agreed to effect: 1. Transfer P20 000 to the general reserve 2. Payment of preference share dividend 3. Payment of final dividend of P0.05 per share on the ordinary shares. An interim dividend of P0.02 per share had been paid to the ordinary shareholders on 31 December 2014. Required: Prepare the profit and loss appropriation account for the year ended 30 April 2015 . (1) 1.b) The following balances remained in the ledger of Gayson 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 P8,134 P6,468 P8,000 P1,000 P5,601 P579 P2,000 P28.887 Non-current assets at cost, less depreciation P4,377 Tax liability P44,626 Long term loan P1,382 P10,000 The directors propose: 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 31st March 2015