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Part A? Croydon ple (Croydon) has prepared the following trial balance as at 30 September 2019: Credit Revenue Cost of sales Administrative expenses (note 1)

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Croydon ple ("Croydon") has prepared the following trial balance as at 30 September 2019: Credit Revenue Cost of sales Administrative expenses (note 1) Distribution costs Loan interest paid (note 2) Equity shares of 50 cent each Current tax (note 3) Deferred tax (note 3) Property.at cost 1 October 2010 (note 4) Plant and equipment - at cost (note 4) Building accumulated depreciation - 1/10/18 Plant and equipment accumulated depreciation - 1/10/18 Inventory at 30 September 2019 Trade receivables Bank Trade payables 10% Convertible loan note (note 2) Retained earnings at 1 October 2018 Debit C'000 C000 315,400 156,400 71,300 45,300 2,000 20,000 5.200 1.900 180,000 42.000 48,000 14,300 74,200 39,200 1,800 27,400 20,000 170, 400 617,400 617 400 The company has also provided you with the following additional information: 1. During the year ended 30 September 2019, Croydon paid an equity dividend of 8 cent per share, which is included in administrative expenses in the above trial balance. 2. The 10% convertible loan note was issued for proceeds of C20 million at par on 1 October 2018. Due to its conversion option, it has an effective interest rate of 12% 3. The current tax balance concerns the under/over provision of the tax liability for the prior year (year ended 30 September 2018). Croydon estimate the corporation tax charge for the year ended 30 September 2019 to be (3 million, and at that date the liability to deferred tax was estimated at 1 million 4. The property includes a land element of C30 million. Croydon depreciates the building element on a straight-line basis over 25 years, Plant and equipment is depreciated at 25% per annum (reducing balance method). Depreciation for the year ended 30 September 2019, which should be charged to cost of sales, has not yet been charged on any non-current asset Required: a) Prepare Croydon's Statement of comprehensive Income for the year ended 30 September 2019 (23 marks) b) Prepare Croydon's Statement of Financial Position as at 30 September 2019 (21 marks)

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