Zeta Ltd
 Date: 30 April 2024

Details:

• Raw materials inventory (wood):
  • Cost: £36,000
  • Replacement cost: £34,000
• Finished goods inventory:

Product	Alpha	Beta
Direct costs	£60,000	£50,000
Proportion of fixed overhead	£14,000	£12,000
Proportion of selling costs	£4,000	£3,500
Net realizable value	£95,000	£75,000

• Machinery:
   Acquired on 1 May 2017 for £330,000, depreciated over 9 years using the reducing balance method.
• Freehold property:
   Acquired 18 years ago for £2,500,000, land value estimated at £700,000. Buildings are depreciated over 55 years.
• Research and development:
  • Research costs: £410,000
  • Development costs: £670,000, benefiting over 7 years.

Required:
 Detail how these items should be reflected in Zeta Ltd's balance sheet and income statement for the period ending 30 April 2024.