UESTION 1 Wardour Street Ltd is a dealer in marquees, which are sold to retailers. The Statement of Financial Position for 2014 is as follows: Statement of financial position as at December 31, 2014 2014 ASSETS Non-current assets Property, Current assets Inventories Trade receivables Prepaid rent Cash plant and equipment 687,000 236,000 146,000 10,000 4,000 396,000 Total assets EQUITY AND LIABILITIES Equity Ordinary share capital (1, fully paid) Share premium Retained earnings 300,000 372,000 295,000 67,000 Current liabilities Trade payables Accrued wages 106,000 10,000 116,000 1,083,000 Total equity and liabilities Property, plant and equipment have an original cost of 913,000 and associated accumulated depreciation of 226,000