The following information relates to Goldfield Nigeria Plc for the year ended 31 December 2023: Authorised Share Capital: 10,000,000 Ordinary shares of N1.00 each 2,000,000 8% Preference shares of N2.00 each Issued and fully paid: 6,000,000 Ordinary shares of N1.00 each 1,000,000 8% Preference shares of N2.00 each Additional Information: (i) Net profit before taxation for the year was N4,200,000 (ii) Corporation tax is to be provided at 30% of net profit before tax (iii) The directors recommend a final ordinary dividend of 15 kobo per share (iv) Preference dividend is to be paid for the year (v) General reserve is to be increased by N500,000 (vi) Retained earnings brought forward were N1,350,000 You are required to prepare: (a) The Profit and Loss Appropriation Account for the year ended 31 December 2023. (10 marks) (b) State TWO differences between Ordinary shares and Preference shares. (4 marks) (c) Explain the term 'Authorised Share Capital'. (2 marks)