1. A trial balance and additional financial data from Y Ltd. books of accounts:

Trial Balance as at 31/12/2021 DR CR Figures in '000 4% Debenture repayable in 2030 Debenture interest 30,000 1,800 Goodwill 12,800 11,600 Retained profit as at 01/01/2021 Motor vehicles - Net book value Maintenance of motor vehicles 68,000 4,500 75,000 Land Maintenance of land 1,500 34,000 Office equipment Cost Sales revenue and Purchases 226,000 380,000 1,400 Provision for doubtful debts as at 01/01/2021 6,000 Miscellaneous expenses Senior management remuneration Insurance 4,000 1,900 Salaries 72,000 2,400 Business rates Utilities Trade payables and receivables Inventory as at 01/01/2021 Bank 4,600 30,000 27,000 33,000 6,400 1,700 16,000 23,000 Cash Marketing expenses General reserves Sales and Purchases returns 3,000 3,600 100,000 - Issued ordinary share capital - 80p/share Issued 10% preference share capital 60p/share 28,000 604,600 604,600 The following additional financial data was also available as at 31/12/2021: 1. Inventory value was 12,000,000. 2. The amount paid for marketing expenses to the year-end includes 5,000,000, which is for the next accounting period. 3. The company had outstanding business rate of 500,000. 4. 8% of the company motor vehicles were used by the senior management of the company for company business. 5. The company depreciation policy is as follows: (i) The depreciation rate on motor vehicles is 30% on a reducing balance basis. (ii) The depreciation on office equipment is 40% on cost. 6. The authorised ordinary share capital is 200,000,000 shares at 80p each. 7. The authorised 10% preference share capital is 50,000,000 shares at 60p each. 8. A trade receivable of 12,000,000 was irrecoverable. 9. The provision for doubtful debts is to be 5% on trade receivables. 10. Preference share dividends were paid by bank transfers, and not reflected in the relevant books of accounts listed in the trial balance. (b) X Ltd. has an operating profit of 12m, which includes a depreciation charge of 1m. During the year the trading stock has increased by 4m, trade debtors have increased by 3m and trade creditors have increased by 5m. Show all necessary workings and proper headings of the financial statements: (a) For Y Ltd., prepare the following: (i) Income Statement for the year ended 31/12/2021. (ii) Statement of Financial Position as at 31/12/2021. (b) Prepare a statement of cash flow from operations of X Ltd