SECTION A Financial Accounting Answer BOTH questions 1. Hellebore nlc has produced the following trial balance for the year ended 31March Additional information: a) Inventory at 31 March 2023 was valued at a cost of 464,000. b) Depreciation has not yet been provided for the year. The following depreciation policies are applied, with the assumption of no residual value: Plant and machinery Motor vehicles 10%straightline20%reducingbalance c) On 4 April 2023, the company discovered that one of its customers had gone into administration, owing Hellebore plc 32,000. d) A general provision of 4% of trade receivables is to be carried forward. e) Interest is charged on the bank loan at the rate of 5% per annum. f) The corporation tax charge for the year has been calculated at 23,000, which will be paid in full after the year end. Required: Prepare a Statement of Profit or Loss and Statement of Financial Position for Hellebore plc, for the year ended 31 March 2023