1. The following is a list of assets and claims of a cosmetics manufacturing business at a particular point in time:
   • Short-term borrowings: £21,000
   • Property: £275,000
   • Inventories of raw materials: £19,000
   • Trade payables: £26,000
   • Plant and equipment: £135,000
   • Loan from Cosmetics Finance Co. (long-term borrowing): £102,000
   • Inventories of finished goods: £31,000
   • Delivery vans: £53,000
   • Trade receivables: £41,000

Required:

Draw up a statement of financial position incorporating these figures. (Hint: There is a missing item that needs to be deduced and inserted.)