*10.6 Ivy begins trading as a fanner on 1 January 2014, making up annual accounts to 31 December. Her adjusted trading profits/(losses) in the opening years are as follows:

£

year to 31 December 2014 31,600 year to 31 December 2015 15,400 year to 31 December 2016 (12,900)

(a) Compute Ivy's trading income for the first four tax years, assuming that no averaging claims are made.

(b) Compute Ivy's revised trading income for the first four tax years, assuming that all possible averaging claims are made.