1. The following is a list of the assets and claims of Theta Solutions as at 30 September last year:
   • Trade payables: €91,000
   • Motor vehicles: €45,000
   • Long-term borrowing (loan from FinanceCo): €295,000
   • Equipment and tools: €240,000
   • Short-term borrowings: €135,000
   • Inventories: €170,000
   • Property: €380,000
   • 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) Discuss the overall financial performance revealed by this financial statement.