Success Limited is a retailer of kitchenware. Must goods it trades are purchased from various suppliers in a finished fomi. In addition, the company manufactures several types of kettles The bookkeeper drew up the following trial balance at 30 April 1996 Ordinary share canital of SI each General reserve Retsined profits 15% long-term loan Machinery- at cost - accumulated depreciation as at I May 1993 Motor vehicles-at cost Stocks at I May 1995 Raw materials Manufactured goods Other goods Debtors Creditors Bank Sales 200,000 23,000 164.000 120.000 400,000 100,000 160,000 20,000 10,000 170,000 160,000 48.000 30,00| 2,200,000 Purchases - Raw materials 430,000 1150.000 257,000 22.000 - Other goods Salares Rent and rates 10.500 Electricity Interest on loan Sundry expenses 9,000 7.100 2.855.600 2,855,600 Additional information: () Depreciation is to be provided using the reducing halance method at the following rates: Motor vehicles -12.5% per annum Machinery - 10% per annum The motor vehicle was purchased in 1996 It is the company's policy to charge a full year's depreciation in the year of acquisiticn. tn) Salaries include wages of $54,000 paid to the kettle-making employees. (i) Rates prepaid at 30 April 1996 amounted to $2,000. (iv) Accruals at 30 April 1996 were: Electricity S1,500 (v) The apportionment of rent and rates and electricity to the kettle-making department is 25% (vi) Stocks at 30 April 1996 were: Raw materials Manufactured goods Other goods (vii) The directors proposed to transfer 440,000 of the profits to general reserve and to doclare a final dividend of 50.50 per share. 40,000 12.500 215,000 (a) a manufacturing, trading and profit and loss account (with the section on appropriations) for the year ended 30 April 1996: and marks) (b) a balance sheet (13 (7 marks)