Additional information at 30 April 2020: inventory 350 000 interest owing on bank loan 20000 rent on the warehouse for the year 15000 per month wages apportioned factory 2, Office staff V and warehouse staff /4 depreciation on the factory to be charged at 2 per cent using the straight-line method motor vehicles depreciated over 5 years with no residual value corporation tax provision calculated at 152 000, payable by 31 December 2020. Q 1 In accordance with International Accountir 1/1 Standard 1. prepare the following: (a) a statement of profit or loss and other comprehensive income for the year ended 30 April 2020 (23 marks) (b) a statement of financial position at 30 April 2020. (17 marks) E Ventalight plc manufactures roof ventilation products in its own factory. These are then transferred to the warehouse before being shipped to customers worldwide. At 30 April 2020, the following balances were extracted from the books. Ventalight plc Trial balance at 30 April 2020 Dr Dr Bank loan-2024 400000 Bank loan interest 10000 Cash and cash equivalents 160000 Debenture 6% - 2029 1 800 000 Direct materials 4 200000 Factory at cost 3000000 Factory - provision for depreciation 50000 Goodwill 800000 Interest on debenture 108 000 Inventory at 1 May 2019 300000 Land at cost 3000000 Marketing 750 000 Motor vehicles at cost 150 000 Motor vehicles - provision for depreciation 150000 Office expenses 180000 Ordinary shares 1 2500000 Rent (warehouse) 200000 Retained earnings 658000 Revaluation reserve 100000 Revenue 9060000 Shipping expenses 490000 Trade payables 525000 Trade receivables 595000 Wages 1 200000 15 143000 15 143 000