The following information was extracted from the financial statements of I. Ching (Booksellers) plc for the year

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The following information was extracted from the financial statements of I. Ching (Booksellers) plc for the year to 31 May 2015:
................................................................................................................£000
Finance charges .......................................................................................40
Cost of sales ............................................................................................460
Distribution expenses ............................................................................110
Revenue ...................................................................................................943
Administrative expenses ........................................................................212
Other expenses ..........................................................................................25
Gain on revaluation of property, plant and equipment ........................20
Loss on foreign currency translations on foreign operations ..............15
Tax on profit for the year ...........................................................................24
Tax on other components of comprehensive income 1


Required:
Prepare a statement of comprehensive income for the year ended 31 May 2015 that is set out in accordance with the requirements of IAS 1 Presentation of Financial Statements.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Accounting and Finance An Introduction

ISBN: 978-1292088297

8th edition

Authors: Peter Atrill, Eddie McLaney

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