QUESTION FOUR Here is the Trial balance of Fube Ltd as at 30 April 2018 Dr k Cr k 200,000 102,994 227,219 54,818 40,000 30,000 15,000 12,411 Share capital: authorized and issued Inventory as at 30 April 2017 Accounts receivable Accounts payable 8% loan notes Non-current assets replacement reserve General reserve Retained profits as at 30 April 2017 Loan note interest Equipment at cost Motor vehicle at cost Bank Cash Sales Purchases Return inwards Carriage inwards Wages and salaries Rent, business rates and insurance Discounts allowed Directors' remuneration Provision for depreciation at 30 April 2017: Equipment Motor vehicles 1600 225,000 57,200 4,973 62 880,426 419,211 18,400 1,452 123,289 16,240 3,415 82,400 32,600 18,200 1283,455 1.283.455 Partnership accounts and company accounts Given the following information as at 30 April 2018, draw up an income statement and statement of financial position for the year to that date: (1) Inventory K111,317. (ii) The share capital consisted of 300,000 ordinary shares of 5Op each and 50.000 12 per cent preference shares of K1 each. The dividend on the preference shares was proposed to be paid as well as a dividend of 18 per cent on the ordinary shares. (iii) Accrued: rent K802; directors' remuneration K6,000. (iv) Loan note interest Y2 year's interest owing. (v) Depreciation on cost equipment 20 per cent; motor vehicle 25 per cent. (vi) Transfers to reserves: General reserve K5,000; Non-current assets replacement reserve K10,000