3. Dan Tech Ltd income statement for the year ended 31 December 2020 and the statements of financial position as at 31 December 2019 and 2020 are as follows: Income statement for the year ended 31 December 2020 Em Revenue 750 Cost of sales (350) Gross profit 400 Distribution expenses (45) Administrative expenses (35) Operating profit 320 Interest payable (25) Profit before taxation 195 Taxation (35) Profit for the year 160 Statements of financial position at 31 December 2019 and 2020 2019 2020 Em Em ASSETS Non-current assets Property, plant and equipment. Land and buildings 310 310 Plant and machinery 325 314 635 624 Current assets Inventories Trade receivables 41 35 139 145 180 180 815 804 Total assets EQUITY AND LIABILITIES Equity Called-up ordinary share capital 200 300 Share premium account 40 Revaluation reserve. 69 9 Retained earnings 123 197 432 506 Non-current liabilities Borrowings-loan notes 250 150