Toys Galore Ltd are a UK registered company who design and make toys for children of various ages. Their toys sell both online and in high-street retail outlets. The following information is available regarding the year ended 31 March 2020. Shares and securities transactions During the year Toys Galore Ltd had the following acquisitions and disposals of shares: 31 July 2019 6 August 2019 6 August 2019 Acquired 4,000 shares at a cost of 8.25 each Acquired 6,000 shares at a cost of 7.50 each Disposed 15,000 shares for 240,000 (16 each) The following prior transactions are relevant: As at 1 April 1985 - No. of shares 6,500; cost 8,500; indexed cost 10,500 10 December 1985 Acquired 2,000 shares at a cost of 4,500 30 August 1992 1 May 2000 Acquired 5,000 shares at a cost of 12.000 Acquired 500 shares at a cost of 1,500 The relevant retail prices index (RPIS) for the share holdings are: April 1985 December 1985 August 1992 May 2000 December 2017 94.78 96.05 138.9 170.7 278.1 Continued on next page L. Toys Galore Ltd are a UK registered company who design and make toys for children of various ages. Their toys sell both online and in high-street retail outlets. The following information is available regarding the year ended 31 March 2020. Shares and securities transactions During the year Toys Galore Ltd had the following acquisitions and disposals of shares: 31 July 2019 6 August 2019 6 August 2019 Acquired 4,000 shares at a cost of 8.25 each Acquired 6,000 shares at a cost of 7.50 each Disposed 15,000 shares for 240,000 (16 each) The following prior transactions are relevant: As at 1 April 1985 - No. of shares 6,500; cost 8,500; indexed cost 10,500 10 December 1985 Acquired 2,000 shares at a cost of 4,500 30 August 1992 1 May 2000 Acquired 5,000 shares at a cost of 12,000 Acquired 500 shares at a cost of 1,500 The relevant retail prices index (RPIS) for the share holdings are: April 1985 December 1985 August 1992 May 2000 December 2017 94.78 96.05 138.9 170.7 278.1 Continued on next page L. C39TA Required: (a) Calculate Toys Galore Ltd's net chargeable gains for the year. (12 marks) (b) Calculate Toys Galore Ltd's Corporation Tax liability for the year. (15 marks) (c) When is Toys Galore Ltd required to pay its Corporation Tax liability and submit its Corporation Tax return for this accounting period? (1 mark) (d) Explain the principle behind the way trading profits are calculated for a limited company. (2 marks)