Question:

Saldpur Fashions pic produces a range of clothing at its factory. The ciothing is then dellvered to

Saldpur Fashions plc$\text{'}$s shops for sale to customers. On $30$ June $2018,$ the following balances

were in the books.

Adjustments and additionai information on $30$ June $2018$

End inventory on $30$ June $2018$ was valued at $$31,000$

Depreclation for the year is to be provided as follows:

Warehouse machinery $$8000$ and omce machinery $$10,000$

Maintenance is divided between the factory, distribution, and ofmce in the ratio of $3$:$2$:$1$

Hire of delivery vans, $$6200,$ is outstanding

Provision is to be made for the payment of dividends as follows:

Preterence alvidend of $$600$

A corporation tax provision for $$17000$ is to be made

The interest payments on the Debentures are made at the end of June. The payment for

December $2018$ is outstanding

Selling expenses include $$2,000$ prepaid

Required:

a$.$ Prepare Saldpur Fashions plo statement of Proft or Loss and Comprenensive Income

for the year ended $30$ June $2018$ with complete work for each cost.

b$.$ Prepare the Statement of Financial Position on $30$ June $2018.$