The following additional information is supplied:

Depreciate plant and machinery 20% on straight-line basis.

Inventory at 31 December 20X0 is 90,000.

Accrue auditors? remuneration 2,000.

Income tax for the year will be 58,000 payable in October 20X1.

It is estimated that 7/11 of the plant and machinery is used in connection with distribution, with the remainder for administration. The motor vehicle costs should be allocated to distribution.

Required:

Prepare a Statement of Comprehensive Income and Statement of Financial Position. No notes to the accounts are required.

Basalt plc is a wholesaler. The following is its trial balance as at 31 December 20X0. Dr 000 Ordinary Share Capital: 1 shares Share Premium General Reserve Retained Earnings as at 1 January 20XO Inventory as at 1 January 20X0 Sales Purchases Administrative Coasts Distribution Costs Plant and Machinery - Cost Plant and Machinery - Provision for Depreciation Returns Outwards Returns Inwards Carriage Inwards Warehouse wages Salesmen's Salaries Administrative Wages and Salaries Hire of Motor Vehicles Directors' Remuneration Rent Receivable Trade Receivables Cash at Bank Trade Payables Cr 000 300 20 16 55 66 962 500 10 6 220 49 25 27 9 101 64 60 19 30 7 326 62 1,500 66 1,500 The following additional information is supplied: 1. 2. 3. 4. 5. Depreciate plant and machinery 20% on straight-line basis. Inventory at 31 December 20X0 is 90,000. Accrue auditors' remuneration 2,000. Income tax for the year will be 58,000 payable in October 20X1. It is estimated that 7/11 of the plant and machinery is used in connection with distribution, with the remainder for administration. The motor vehicle costs should be allocated to distribution. Required: Prepare a Statement of Comprehensive Income and Statement of Financial Position. No notes to the accounts are required