FLR M financial requirement help

Dear Board Members

I am a silent reader of this great forum, hope someone will help me with this.

My husband received ILR LR today. Now we are planning to apply for mr FLR M. He is doing business (ltd company). For the last 6 months he had 28K as dividend and 12k (gross) as salary, does this enough for me and two UK born kids?
The problem is for this year I mean 2014 April - 2015 April we didn't filed accounts, as we still have two months time. Can we still use this dividends as proof of income?

Also can I use my UK Masters degree as english requirement?

Please help

Regards

Anisa9