Istaimy plc's summarised Balance Sheet at 30 April 2001 was as follows.

On 1 May 2001, before any further transactions had taken place, it was decided to redeem all the preference shares at a premium of $0.30. The shares had originally been issued at $1.20 per share. In order to provide funds for the redemption, the company issued a further 100 000 ordinary shares at a premium of $0.25. 

Required 

Prepare Istaimy plc's Balance Sheet as it will appear immediately after the issue of the additional ordinary shares and the redemption of the preference share capital

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Fixed assets Net current assets Ordinary shares of $1 10% preference shares of $1 Share Premium account Profit and Loss Account $000 1300 740 2040 CO 1200 300 200 340 2040