Torrent plc’s income statement for the year ended 31 December 2010 and the statements of financial position as at 31 December 2009 and 2010 are as follows:

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Revenue Cost of sales Gross profit Income statement for the year ended 31 December 2010 Distribution expenses Administrative expenses Rental income Operating profit Interest payable Profit before taxation Taxation Profit for the year m 623 (353) 270 (71) (30) 27 196 (26) 170 (36) 134