Ivy begins trading as a farmer on 1 January 2019, making up annual accounts to 31 December. Her adjusted trading profits/(losses) in the opening years are as follows:

(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 the cash basis is not used and all possible averaging claims are made.  

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year to 31 December 2019 year to 31 December 2020 year to 31 December 2021 31,600 15,400 (12,900)