The following trial balance has been extracted from the books of Arran plc as at 31 March 2017:

Additional information:
1 Inventory at 31 March 2017 was valued at £150,000.
2 Depreciation for the year to 31 March 2017 is to be charged against administrative expenses as follows:

3 Assume that the basic rate of income tax is 30%.
4 Corporation tax of £180,000 is to be charged against profits on ordinary activities for the year to 31 March 2017.
5 £4,000 is to be transferred to the deferred taxation account.
6 The company proposes to pay a final ordinary dividend of 30p per share.

Required:
In so far as the information permits, prepare the company’s statement of profit or loss for the year ending 31 March 2017 and a statement of financial position as at that date in accordance with the Companies Acts and related accounting standards. Note: statement of profit or loss and statement of financial position notes are not required, but you should show the basis and computation of earnings per share at the foot of the statement of profit or loss, and your workings should be submitted.

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Administrative expenses Called-up share capital (all ordinary shares of £1 each) Cash at bank and in hand Accounts receivable Deferred taxation (at 1 April 2016) Distribution costs Non-current asset investments Income from non-current asset investments Interim dividend paid Overprovision of last year's corporation tax Land and buildings at cost Land and buildings: accumulated depreciation at 1 April 2016 Plant and machinery at cost Plant and machinery: accumulated depreciation at 1 April 2016 Retained profits (at 1 April 2016) Purchases Sales Inventory at 1 April 2016 Trade accounts payable £000 95 25 230 500 280 21 200 400 1,210 140 £3,101 £000 200 60 12 5 30 170 229 2,265 130 £3,101