1. The following is a list of the assets and claims of Vertex Solutions as at 30 September last year:
   • Trade payables: £93,000
   • Motor vehicles: £47,000
   • Long-term borrowing (loan from TechFinance Co.): £295,000
   • Equipment and tools: £240,000
   • Short-term borrowings: £142,000
   • Inventories: £170,000
   • Property: £370,000
   • Trade receivables: £205,000

Required:

(a) Prepare the statement of financial position of the business as at 30 September last year from the information provided, using the standard layout. (Hint: There is a missing item that needs to be deduced and inserted.)

(b) Evaluate the liquidity and solvency revealed by this financial statement.