CL plc is a manufacturing business. Goods are transferred from the factory at a fixed percentage profit, which has remained unchanged for some years. The directors provided the following information for the year ended 31 December 2017 Revenue Prime cost Factory overheads Distribution costs Administrative expenses Finance charges Work in progress at 1 January 2017 Inventory of finished goods at transfer price at 1 January 2017 Work in progress at 31 December 2017 Inventory of finished goods at transfer price at 31 December 2017 1820 000 780 000 152 000 283 800 343 100 47 100 17 000 126 000 25000 96 000 The following information is also available: 1 The provision for unrealised profit account was as follows: CL plc Provision for unrealised profit account 2017 Dec 31 Income statement Balance cld 2017 Jan 1 Balance b/d 5000 16000 21000 21000 21000 2018 Jan 1 Balance b/d 16000 2 Total rent for the business was $100 000 for the year. All of this had been included in administrative expenses. However, 50% of it related to the factory, 25% to the offices and 25% to the distribution centres. 3 The taxation charge for the year was $39400. Answer the following questions in the Question Paper. Questions are printed here for reference only. (a) Calculate the percentage of factory profit used by the company, (b) Prepare the manufacturing account for the year ended 31 December 2017 in as much detail as possible. (c) Prepare the income statement for the year ended 31 December 2017