The trial balance of Ely Ltd as at 31 March 2020 is as follows Dr Cr Plant and Machinery at cost 60,000 Equipment at cost 40,000 Property at cost 80,000 Sales 341,000 Purchases 196,200 Sales Returns 2.100 General expenses 5,600 Rent 14,000 Purchases returns 900 10% Debentures 20,000 interest on debentures 2,000 inventory 1 Apr 2019 14,200 Receivables 32,350 Payables 10,600 Cash at bank 15,000 Equity 31,600 share premium 8,200 retained profit 1 Apr 2019 21,350 Provision for depreciation 1 Apr 2019: - Plant & Machinery 6,000 - Equipment 9,000 Property 12,800 461,450 461,450 Additional information: (a) Inventory was valued at 13.260 on 31 March 2020, (b) Depreciation charged on the assets is as follows: - Property 5% pa on cost - Equipment on straight line basis. The estimated useful life is 4 years and residual value at the end of the four years is 4,000 - Plant and machinery is 5% on cost (c) The company decides to revalue the property to 180,000 on September 2019 and to continue charging depreciation at the rate of 5% per annum. REQUIRED Prepare a statement of financial position as at 31 March 2016 including the profit for the year as your balancing figure