1. The following is a list of assets and claims of a retail business at a particular point in time:
   • Short-term borrowings: £18,000
   • Property: £230,000
   • Inventories of raw materials: £20,000
   • Trade payables: £25,000
   • Plant and equipment: £110,000
   • Loan from Retail Finance Co. (long-term borrowing): £95,000
   • Inventories of finished goods: £30,000
   • Delivery vans: £50,000
   • Trade receivables: £40,000

Required:

Write out a statement of financial position in the standard format incorporating these figures. (Hint: There is a missing item that needs to be deduced and inserted.)