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Part B (Onda ple) Drada plc is in business providing computer equipment. It has an authorised share capital of 1,000,000 1.00 ordinary shares. 800,000 are issued and are fully paid up. The Trial and Balance of Drada ple is shown below for the year-end June 2021. 900,000 820,000 90,000 11,000 280,000 170,000 70,000 40,000 11,000 Ordinary Share Capital Sales Opening Inventory Rental income Purchases Vehicles at Cost Provision for Vehicle Depreciation Office Salaries Carriage in General Reserve Share Premium Reserve Long term secured loan Bank account Electricity Payables Receivables Allowance for Receivables Wages Irrecoverable Debts Written Off Rent and Rates Freehold Buildings Interim ordinary dividend paid 12,000 15.000 80,000 45,000 12,000 24 000 49,000 4,000 118,000 13,000 54,000 1,050,000 4,000 Notes to the Accounts: 1. The Directors of Draca plc wish to make a transfer to the general reserve of 5,000. 2. A final ordinary dividend of 2p per share is proposed. 3. A corporation tax provision of 40,000 is to be made. 5. Depreciation is to be provided on vehicles at 20% per annum on the reducing balance method 6. Closing inventory is valued at 70,000. 7. The electricity charge is for the 6 months ending December 31" 2020. An electricity charge of 13,000 is expected for the remaining 6 months 8. It is decided to increase the allowance for receivables to 6,000 Required: Prepare the Income Statement and Statement of Financial position of Osada plc for the year ending June 2021. [Totaltor Part 2 25 marks)

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