(a)[10]
Prepare the income statement covering the year ended 31 December 2019.
(b)[2]
Explain what is meant by the phrase ‘Reserves were maintained in their most flexible form’.
(c)[4]
Prepare the ordinary share capital account covering the year ended 31 December 2019.
(d)[5]
Prepare the statement of changes in equity covering the year ended 31 December 2019.
(e)[9]
Advise the directors on which option they should choose. Justify your answer.