Brighton Magnets Limited has the following balances in its books at 31 August 2012: Note: corporation tax on the profits for the year is estimated at £216 470. This amount is not included in the...

Note: corporation tax on the profits for the year is estimated at £216 470. This amount is not included in the list of balances above.

Required: prepare a income statement and a statement of changes in equity for Brighton Magnets Limited for the year ended 31 August 2012 and a statement of financial position at that date. All three financial statements are to be presented in an appropriate format.