The trial balance of Fender plc is as follows:

Based on the above trial balance, produce a statement of comprehensive income for the year ended 31 December 2017 and a statement of financial position as at that date.
Additional information:

1. Inventory as at 31 December 2017 was valued at £55,000.  

2. Taxation for the year was assessed to be £30,000.

The format of the financial statements should follow the requirements of IAS 1 as closely as the information permits.

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Fender plc Trial balance as at 31 December 2017 Cr 000 400 Ordinary share capital (1 shares) Plant and equipment at cost Depreciation on plant and equipment Investments (non-current) Inventories as at 1 Jan 2017 Revenue Purchases Dividends paid Dividends received Retained earnings Selling and distribution costs Trade receivables Trade payables Administration costs Share premium Cash and cash equivalents 5% Debentures Interest paid Dr 000 480 200 74 695 45 75 38 49 28 40 1,724 95 965 22 75 27 60 80 1,724