Stoddard plc started in business on 1 January 2012. Its issued share capital was 120,000 ordinary shares of £1 each and 30,000 6% preference shares of £1 each. The following information is available:
•Net profits for the first two years of business were as follows: 2012 £58,911; 2013 £72,344.
•Corporation tax was as follows: 2012 £15,890; 2013 £26,750.
•Transfers were made to the general reserve: 2012 £5,000; 2013 £10,000.
•Preference dividends were always paid, whereas the ordinary dividends paid were 5% in 2012 and 7% in 2015.
Produce a balance sheet extract for each of the three years of trading, showing the equity section.