Can I get some assistance for the question below part (a) (b) and (c) please?

Question 1

The table below shows the Trial Balance for Kentigern Ltd for the year ended 31 March 2018

Notes '000 '000

Cost of Sales and Sales 4,650 10,500

Current Assets 750

Operating Costs 5,600

Interest and other finance charges 350

Non-Current Assets 3,500

Current Liabilities 650

Ordinary Share Capital (1 Shares) 500

Share premium 750

Revaluation reserve 290

Non-Current Liabilities 2,000

Retained earnings 310

Ordinary Dividends paid 150

15,000 15,000

The following notes are also relevant:

(i) Kentigern's finance director estimates that the tax charge for the current year is

likely to be around 300,000. Included in current liabilities is an amount of

20,000 which represents an overprovision for tax in the previous year.

(ii) Kentigern normally conducts its business in sterling. However, in January 2018

it bought inventory on credit from a supplier for $72,000. The exchange rate at

the date of the purchase was $1.20; 1 and this was the rate at which the

transaction was included in the accounts. The full amount is still outstanding.

Assume the exchange rate at the 31 March 2017 was $1.00:1.

(iii) On 1 April 2017, Kentigern entered into an agreement to lease some new

machinery over a period of 3 years. The useful life of the machinery is

expected to be 3 years, with no residual value at the end of that period. The

cash price of the machinery would have been 380,000. The lease agreement

specifies that Kentigern will make four annual lease payments, of 100,000

each, on 31 March each year. The first lease payment has been recorded as

an operating expense in the accounts but no other entries have been made.

(iv) Non-Current Assets includes Land shown at a valuation of 2million as at 31 March 2017. The value of the land at 31 March 2018 is 2.2million and the directors would like this value reflected in the financial statements.

Required:

Prepare the following statements for Kentigern for the year ended 31 March 2018:

(a) Total Comprehensive Income

(b) Changes in Equity

(c) Financial Position

(Source Heriot Watt Past papers 2018)