The following trial balance has been extracted from Carol Ltd as at 30 April 2012:

Additional information:
1. Stock at 30 April 2012 was valued at £140,000.
2. Depreciation for the year of £28,000 is to be provided on buildings and £9000 for motor vehicles.
3. A provision of £6000 is required for the auditors' remuneration.
4. £2000 had been paid in advance for renewals.
5. Corporation tax owing at 30 April 2012 is estimated to be £60,000.
6. The directors propose an ordinary dividend of 10p per share.
7. The market value of the investments at 30 April 2012 was £35,000.

Required:
Prepare Carol Ltd's trading and profit and loss account for the year to 30 April 2012 and a balance sheet as at thatdate.

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Dr £000 Cr £000 Advertising Bank overdraft Bank interest paid Creditors Debtors Directors remuneration Freehold land and buildings: 20 80 143 30 At cost 800 Accumulated depreciation at 1.5.11 General expenses Investments at cost Investment income Motor vehicles: 102 15 30 At cost 36 Accumulated depreciation (at 1.5.11) Preference dividend paid Preference shares (cumulative 10% shares 18 15 150 100 of E1 each) Profit and loss account a .5.11) Purchases Repairs and renewals Sales Share capital (authorized, issued and fully paid 480 900 ordinary shares of each) Share premium account Stock (at 1.5.11) Wages and salaries 500 25 120 221 1900 1900