Required: A statement of profit or loss for 2016 and a statement of financial position as a t 31 December 2016. 45.9A The following is the trial balance of Tully Ltd as on 31 December 2017: Dr Cr Share capital issued: ordinary shares 20p Accounts receivable and accounts payable Inventory 31 December 2016 Bank Premises at cost Machinery at cos Motor vehicles at cost Depreciation provisions at 31.12.2016: 375,000 169,600 74,900 81,300 17,900 265,000 109,100 34,700 Premises 60,000 41,400 18,200 975,600 Machinery Motor vehicl Sales Purchas Motor expenses Repairs to machinery Sundry expenses Wages and salaries Directors' remuneration Retained profits as at 31.12.2016 General reserve 623,800 4,300 3,600 2,900 241,500 82,600 51,200 60,000 1636300 Given the following information, you are to draw up a statement of profit or loss for the year ending 31 December 2017, and a statement of financial position as at that date: ) Authorised share capital: 500,000 in ordinary shares of 20p. (i) inventory at 31 December 2017 102,400. (iin) Motor expenses owing 280. (iv) Ordinary dividend proposed of 5 per cent. (v) Transfer 7,500 to general reserve. (vi) Provide for depreciation: motor vehicles and machinery 20% on cost, premises 5% on co