Question 6 Value Added Ltd. furnishes the following Profit and Loss A/c: Profit and Loss A/c for the year ended 31st March, 2017 Income Notes Turnover 1 (2000) 29,872 1,042 30.914 Other Income Expenditure Operating expenses Interest on 8% Debenture 2 26,741 987 Interest on Cash Credit 3 151 GST 1,952 29.831 Profit before depreciation 1,083 Less: Depreciation (342) Profit before tax 741 Provision for tax 4 (376) Profit after tax 365 Less: Transfer to Fixed Assets Replacement Reserve (65) 300 Less: Dividend paid (125) Retained Profit 175 Notes: (1) Turnover is based on invoice value and net of sales tax. (2) Salaries, wages and other employee benefits amounting to 14,761 (000) are included in operating expenses. (3) Cash Credit represents a temporary source of finance. It has not been considered as a part of capital. (4) Transfer of 754 ('000) to the credit of deferred tax account is included in provision for tax. Prepare value added statement for the year ended 31st March, 2017 and reconcile total value added with profit before taxation