please solve the right way profit and loss statement, statement of financial position, equity statement

Edgware Ltd retails clothes from several shops in London. The company's trial balance at 31.3.18 before any adjustments have been made is as follows Dr 2000 000 Cr 300 70 290 Shop fittings at cost Shop fittings, accumulated depreciation at 1 April 2017 120 Delivery vans at cost Delivery vans, accumulated depreciation at 1 Inventory at 1 April 2017 Trade receivables Provision for bad debts at 1 April 2017 2017 5 100 Accruals at 1 April 2017 Bank Trade Taxation 8% debenture loan repayable in 2030 Ordinary share capital, 25p shares 196 164 5 40 50 105 1,910 Retained profits at 1 April 2017 Sales revenue Purchases Administrative and distribution expenses Electricit Advertising expenses Rent Interest paid Interim dividend paid 950 127 347 50 150 The following additional information is available 1. The figure for accruals in the trial balance is in respect of electricity accrued at 1.4.17. Electricity paid in the year ended 31.3.18 is for the period up until 31.1.18. An electricity invoice of 72,000 was received from London Electricity for the three months ended 30.4.18 and this was paid on 1.5.18 2. Unpaid debenture interest at 31.3.18 is to be provided 3. On 31.3.18 the company sold a delivery van for 10,000 in cash. The vehicle was purchased in 2015 for 40,000. The cash received from this sale will be banked on 2.4.18. This transaction has not yet been recorded in the accounting records. 4 Depreciation is to be provided on the non-current assets using the following annual rates Shop fixtures and fittings Delivery vans 25% per year on a straight line basis 40% per year on a reducing balance basis A full year's depreciation is provided in the year of acquisition and no depreciation is provided in the year of disposal. 5. The inventory was counted on 31.3.18 and valued at the retail selling price of 240,000. Goods are generally sold with a margin of 40%. Some of these goods with a selling price of 18,000 are no longer fit to be sold in the company's stores and will be sold to a market trader for 3,000 in April 2018. 6. The company has some credit customers and it has just been told that an old customer has gone bankrupt, owing Edgware Ltd 2,000. debts of 2% of remaining receivables is to be made A provision for bad 7. Corporation tax for the year ended 31.3.18 is estimated to be 18,000 and is to be paid on 1.1.19 8. On 25.3.18, the company issued 200,000 shares for 950,000. present, in a separate bank account in the name of the company but this transaction has not yet been brought into the company's accounting records. This sum is, at 9. The directors plan to pay a dividend in respect of the current year of 20p per share, payment to be made in May 2018. Required (a) Prepare an income statement for Edgware Ltd for the year ended 31.3.18, statement of financial position at 31.3.18 and statement of movements in equity for the year ended 31.3.18 in a form suitable for presentation to the directors. 25 marks] (b) The company's Marketing Director has asked you, as the Finance Director, to explain why the cost of the recent television advertising campaign amounting to 50,000 paid for by the company in March 2018, due to appear on television in May 2018, has been included in advertising expenses in the draft income statement. "After all, she says in her email to you, "this will boost sales in the next financial year so surely it should be treated as an asset in the Statement of Financial Position. Not only that. I can't understand while the good name and reputation of the company, which our Chief Executive boasts is one of our most valuable assets isn't listed in the assets, either. It must be worth a huge sum of money