Alkrom plc, an oil trader, commenced trading on 1 January and had the following opening statement of financial position.

Statement of financial position as at 1 January

	£m
ASSETS
Cash	20.0
EQUITY
Opening equity	20.0

On 1 January Alkrom plc acquired offices at a cost of £4m and 320,000 barrels of oil at £50 per barrel: both acquisitions were paid for immediately. The company held on to the oil as oil prices were expected to rise in the following months. On 31 March all the oil was sold on credit for £60 per barrel.

The RP1 stood at 115 on 1 January and 120 on 31 March.

Required: 

Prepare a CPP income statement for the three-month period to 31 March and a CPP statement of financial position as at 31 March. (Ignore taxation and depreciation and work to one decimal place.)