QUESTION 2 (Total 25 marks) The following information relates to CAS plc for the year ended 30 April 2016 Page 3 of 4 Additional information: i) The stock as at 30 April 2020 was counted and valued at $89409 ii) Depreciation is to be applied at the following rates on a straight line basis: - Tools \& Equipment 5% - Motor Vehicles. 25% iii) The amount shown for Insurance on the trial balance include a premium paid of $2 196. This premium represents twelve months' insurance paid up to 31 July 2020. iv) Travel and substance expenses, totalling $1278 have been incurred but not yet invoiced. v) The reminder of debenture interest is to be provided for. vi) Provision is to be made for corporation tax for the year of $24873. REQUIRED: From the information given above, prepare INCOME STATEMENT ; STATEMENT OF CHANGES in equity and FINANCIAL POSITION of CAS plc in respect of financial year ended 30 April 2020