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For the remaining questions, please consider the following transactions that happened in The Dorchester Company Ltd. in 2015 (amounts in £000): · Credit sales amounted to 5,000 (nothing was paid by year-end). · Cash sales amounted to 3,000. · Purchases of inventory (on account) amounted to 10,000 (7,000 were paid by year-end). · Cost of goods sold amounted to 6,000. · Sales and administration expenses (all paid in cash) were 1,450.