The following balances remained in the ledger of OK Ltd after preparation of the statement of profit or loss for the year ending 31 March 2016

The directors propose:
(i) a transfer to general reserve of £30,000;
(ii) payment of the preference dividend and a 10% dividend on the ordinary shares (dividends relating to 2015 were paid in March 2016 at the same rates).

Required:

(a) Prepare a statement of changes in equity for the year ended 31 March 2016.

(b) Prepare a statement of financial position as at 31 March 2016, showing clearly the ordinary shareholders' equity, the total shareholders' funds and the working capital.

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Inventory Accounts receivable Ordinary share capital 8% preference share capital Accounts payable Balance at bank General reserve Retained profits 2015 Net profit for the year to 31 March 2016 Non-current assets at cost, less depreciation 000 104 100 200 100 74 28 60 54 58 334