Gawain's balance sheet for at 31/12/X1 is shown below '000 2,100 1NV Shares Buildings Equipment Inventory 450 Reserves 150 10% Loan Stock Cash & Receivables 1,075 Payables Assets 3,775 Equity & Liabilities Assume that new plant could have been purchased on 01/01/X1 as follows: Buy new plant (fair value 600,000, life 6 years) from a 2:9 rights issue made at a premium of 50p per share. Instead, lease this plant over 6 years with interest at 20% together with annual repayments of 180,000. Prepare amended balance sheets at 31/12/X1 for each option a) and b) above. Contrast Finance Leases with Operating Leases a) b) c) '000 1800 975 600 400 3,775 [10 marks] [10 marks] [04 marks]