Question I The following balances were extracted from the books of Bambursh Ltal as at 31:03/2022. The following additional information is rekevanti - Inventory at 3103/2022 at cost was +1.200 .000 . The Net Realisable Valae of the inveatory at bhis date was 1,140,000. - The iatered payable on the detecture at 6% per aanum foe the year endite 3103/2022 has ant yet becn accouried for. - Production copenses are to be treatod as part of the "Cost of Sales" fieuee. - Property consests of Land and Buildings. Land (cost 2.000.000) has bexe revaltad (for the fint tithei to {2,500,000. Bualdings fernain at book valoe. The coenpany's policy is not so depreciate land - Buildings should be deprociated oil a straigha-line bosis over 20 year. No dcpectatasn has bech charged in the current year. See also note below for the allocation of depreciation crpenie. - Plant and Equipment is to be deprociatod at 25% on a roducing balance basis. Sec also nole below for the allocation ef depecciation expense. - Deprociation is to be allocated to expense headingh as follows: o Production Fxpetres 600 \% - Sales and Destribution Expenses 25\% 0 Administration Expences 15% - On 01.04/2021. Bambargh L.td catcred into a contract for the right to use equipment from Seafield Leasing Solutions Led through a lease coentact. The cost of the asset, which appeutimates the Present Value of the Minamum lease repayments ce 01,042021 , was f2.400,000 and the daration of the Pige 2 of 4 Waynooth Wniveratey 2022 contract is four years. The lease payment is paid in arrears (a.c., at the end of the year, 31 March). To date, aside frott the first leasi poyment made on 31/03/2022, no other accountine entries were rocorded for the trancaction. Bmmburgh Lid uses the actuarial method of accounting for interest cen a fintance lease, with an implicit interes rate of 5.52% per annum. - A boeus issue of one (boess) share foe every fve oedinary shares made daring the year, fandod froen the share pecminm account, has not been reflocted in the trial balance. There were no other nsovements in the ondinary shares issued. - Corporation tax for the year of e762,000 is to be peovided for. Requlrements: Propare a Statement of Profit ee Lass and OAher Comprchsnsive Income and a Statement of Chanpes in Fepuity for the year ending 31 March 2022, and a Statement of Financial Fosition as at 31 March 2029, under Intemational Accounting Standard (LS) No.I