The offices of XYZ Limited were destroyed by fire on 31st March 2020 including the office equipment. The company did not have an external back-up. However, the financial controller used to keep an extract of the following information on his diary. (unless otherwise indicated, all data are as of 31st March 2020).

Current ratio	2.4 : 1
Quick ratio	1.12 : 1
Accounts receivable turnover ratio	15 times
Inventory turnover ratio	6.0 times
Debt to equity ratio	0.875 : 1
Earnings per share	Ksh.4.05 per share

1. All sales during the year were on account

2. The finance costs on the statement of comprehensive income relates to the bonds

3. The amount of bonds outstanding remained the same throughout the accounting period.

4. There were no issues or retirements of ordinary shares during the year.

5. Income tax expense is based on accounting profit

6. Selected balances at the end of the reporting period ended 31st March 2019

Accounts receivable Ksh. 160,000,000

Inventory Ksh. 280,000,000

Total assets Ksh. 1,500,000,000

XYZ Limited

Statement of Comprehensive income

For the period ended 31st March 2020

	Ksh.million
Sales	?
Cost of sales	?
Gross margin	900
Operating expenses	?
Profit from operations	?
Finance costs	(45)
Profit before tax	?
Income tax expense at the corporate tax rate of 30%	?
Profit for the period	162

XYZ Limited

Statement of financial position

As at 31st March 2020

Assets	Ksh.million
Non-current assets
Property, plant and equipment	?
Current assets
Inventory	?
Accounts receivable	200
Cash and cash equivalents	?
	?
Total assets	1,500
Equity and Liabilities
Capital and reserves
Ordinary shares of Ksh.2.5 par value	?
Retained earnings	700
Total shareholders equity	?
Non-current liabilities
10% Bonds payable	?
Current liabilities
Accounts payable	250
Total equity and liabilities	?

Required:

Complete both the Statement of comprehensive income and Statement of financial position for XYZ Limited for the period ended and as at 31st March 2020. (Show all your workings)