Revision Question The accountant at Anhui Ltd has prepared the accounting information needed to draft the financial statements for the year ended 31 March 2020. Unfortunately, she has had to go to an important conference, and she has asked you to prepare these financial statements from the information below which she has collected. The current rate of Corporation Tax is 20%. The motor lorry was purchased on 1 April 2019 and is to be charged depreciation of 20% of cost. No other depreciation is thought necessary and no other assets have been bought or sold during the year. An unpaid bill for 1,350 is outstanding at year end for a repair made to equipment during the year (a general expense). Accounts payable Accounts receivable Bank Cost of sales General expenses Insurance expense Interest paid Inventory Land and buildings Loan 8% (2029) Motor Lorry (Cost) Ordinary shares (1) Retained earnings Sales Wages and salaries Anhui Ltd 163,200 136,000 88,400 646,000 54,400 34,000 47,600 612,000 1,292,000 646,000 136,000 884,000 469,200 1,020,000 136,000 Required: Prepare Anhui Ltd's Statement of Comprehensive Income (Income Statement) for the year ended 31 March 2020 and the Statement of Financial Position (Balance Sheet) as at that date