Blue Moon Plc is a quoted company manufacturing toys. The following balances have been extracted from the ledgers at 31st March 2016: Administrative expenses 8,200 Borrowings 15,000 Cash & cash equivalents 4,520 Deferred taxation provision: 1 April 2015 820 Distribution costs 7,840 Employee costs 30,510 Finance expense 520 Finance income 215 Financial assets: value at 1 April 2015 810 Inventory: at 1 April 2015 14,851 Land & buildings: cost at 31 March 2015 19,400 Land & buildings: accumulated depreciation at 31 March 2015 6,480 Lease payments on manufacturing plant 558. Plant & machinery: cost at 31 March 2015 88,600 Plant & machinery: accumulated depreciation at 31 March 2015 48,600 Purchases & processing costs 42,880 Retained earnings 43,270 Revenue 105,654 Share capital (1 ordinary shares) 4,140 Share premium 800 Trade payables 9,450 Trade receivables 15,740.5) Borrowings The borrowings of 15 million were issued on 1st April 2015 as 4% Convertible Debentures redeemable on 31st March 2018. The initial cash raised was accounted for as borrowings. No other accounting entries have been made. Annual interest payable for the first year was paid on 1st April 2016. Each 1,000 of debentures is convertible into 200 ordinary shares on redemption, or can be redeemed for 1,000 cash. Similar debentures without conversion rights carry an interest rate of 9%. Ignore the effects of taxation on this transaction. 6) Inventory Inventory at 31st March 2016 is 13,950,000. 7) Employee costs Employee costs as shown in the ledger are to be allocated 60% to Cost of Sales, 25% to Administrative Expenses and 15% to Distribution Costs. All directors remuneration is classed as Administrative Expenses. On 1st October 2015, 400,000 shares were issued to directors under the directors bonus scheme. At that time, the shares had a market value of 360p per share. No accounting entries have been made for this transaction. 8) Industrial accident On 6th December 2015 an employee of the company was seriously injured in an accident at the companys manufacturing plant. Lawyers for the company have indicated that a claim for 450,000 against the company has an 80% chance of success. The company has insurance cover for employee injury with excess on any one claim (the amount which has to be paid by the company itself) of 80,000. Legal costs of 50,000 are anticipated on this claim. No amounts have yet been provided for in the financial statements. 9) Corporation tax The companys estimated provision for corporation tax for the year is 385,000. 10) Deferred tax The deferred taxation provision is to be increased by 220,000 for the year ended 31st March 2016. Required: Prepare a Statement of Profit and Loss and Other Comprehensive Income and a Statement of Financial Position for the year to 31st March 2016 for Blue Moon Plc in accordance with International Financial Accounting Standards.