QUESTION $1(50$ marks, $90$ minutes$)$ PART A $(36$ marks, $65$ minutes$)$

Toy Factory $($Poy$)$ Led $($TF$)$ is a resident company and manufactures toys for children. This is an approved Jaruary.

TF is a registered VAT vendor making orly taxable supplies

TF always utilises any possibie legislative election$($s$)$ that would logaly minimise ins overall tax labilify TF always ubises any possible legisli during any given year of assessment.

The following is a draft statement of proffi or loss and other comprehersive riceme tor the $2022$ finarcial The followios year:

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