Prepare the Statement of Profit and Loss, the Statement of Changes in Equity, and the Statement of Financial Position of Alpha PLC for the financial year ended 31 March 2022.

Alpha PLC prepares accounts to 31 March every year. Its latest trial balance for the year ended 31 March 2022 is provided below. Trial balance of Alpha PLC on the year ended 31 March 2022 Dr Cr (000) (000) Inventory at 1 April 2021 Carriage outwards Returns inwards Purchases Salaries and wages Light and heating expenses Interest on debentures General expenses Irrecoverable debts Premises at cost Trade receivables Bank Accumulated depreciation of premises at 1 April 2021 39,000 Sales revenue 702,000 Allowance for receivables at 1 April 2021 5,750 Trade payables 23,250 Debentures (redeemable in 2025) 100,000 Retained earnings 110,000 Share premium 40,000 Ordinary shares of 5 each 500,000 1,520,000 1,520,000 Additional information as at 31 March 2022 is provided below: Inventories at close of business on 31 March 2022 was counted and valued at 12,000,000 at cost. It was subsequently discovered that some damaged items costing 2,000,000 can only be sold for 700,000. A 1 for 10 rights issue was made during the year. The shareholder paid 15 per share. This transaction was not recorded in the accounts. . There were no revaluations during the year. Depreciation of premises is to be provided for the year ending 31 March 2022. Depreciation rate is 1% per annum on a straight-line basis and charged to distribution expenses. The directors also wish to adjust the allowance for receivables equal to 3% of trade receivables. Irrecoverable debts and allowances for receivables are distribution expenses. . The debenture interest expense at rate 10% was not fully accrued. Only a part of that amount has been paid and recorded at the financial year ended. Staff costs are apportioned 30% to administration and 70% to distribution expenses. . General expenses and light and heating expenses are apportioned 75% to administrative and 25% to distribution expenses. . Corporation tax of 31,000,000 will be payable on the profit this year. 6,500 20,400 12,000 412,000 23,000 2,600 7,500 22,000 15,000 780,000 145,000 74,000