AquaWind Electronics Ltd has been trading for many years, supplying electrical and electronic components to the renewables energy industry.You have recently been appointed as the business manager and have asked to see the financial records for the latest trading year ending 30 April 2020.The business presents you with the following:

AquaWind Electronics Ltd, Draft Statement of Profit or Loss for the year ending 30 April 2020 E Revenue 2,064,290 Cost of Sales (1,017,316) 1,046,974 Administration expenses (534,578) Distribution costs (482,644) Profit 29.752AquaWind Electronics Ltd, Draft Statement of Financial Position as at 30 April 2020 Cost Accum. Net Book Dep'n. Value Non-Current Assets E E E Plant & equipment Vehicles 144,316 98,050 46,266 261,630 74,815 186,815 405,946 172,865 Investments 233,081 180,000 413,081 Current Assets Trade receivables 225,040 Bank 39,662 264,702 Total Assets 677,783 Current Liabilities Trade payables 110,132 Net Assets 567,651 Equity Ordinary Share Capital 150,000 Retained Earnings 417 651 567.651(vili) The following expenses are to be allocated on the basis of: Cost of Administration Distribution Sales Expenses Costs Depreciation charge - plant & equipment 10% 40% 50% Depreciation charge - vehicles n/a 40% 60% Property expenses 10% 40% 50%