Refer to the extracts of the annual report of Woolworths Limited in this book's appendix. All questions relate to the consolidated accounts.
1. What period is covered by the income statement?
2. List the main types of revenues.
3. List some of the larger expenses incurred in earning revenue.
4. What are interest expense and interest revenue for the year?
5. What is cost of goods sold for the year?
6. What is total depreciation and amortisation for the year?
7. Explain the change in retained profits from 2013 to 2014.
8. What is income tax expense for the year?
9. What are the basic earnings per share for 2014?
10. What would be the normal balance (DR or CR) of each of the following accounts included in the Woolworths Limited balance sheet or the relevant notes: trade debtors, inventory, investments, land and buildings, advances to employees, trade creditors, provision for income tax, provision for dividends and retained profits?
11. In Woolworths' 2014 balance sheet, what would be the normal balance (debit or credit) for inventories, receivables, intangibles, accounts payable and retained profit?

Data from Appendix

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WOOLWORTHS LIMITED SUSTAINABILITY METRICS AND PROGRESS - PROGRESS AGAINST OBJECTIVES 1 Reduce carbon emissions from our buildings by 40% by 2015 (compared to projected growth levels) Energy efficient and low carbon technology delivered an 18.7% reduction in carbon emissions, compared to original projected growth levels for 2014 Sourcing electricity from renewable sources delivered a further 14.2% reduction in emissions 2 Achieve a 25% reduction in carbon emissions per square metre for new supermarkets New supermarkets built in 2014 have carbon emissions per square metre which are, on average, 25.1% lower than baseline stores 3 Zero food waste to landfill by 2015 (where receiving facilities are available) The volume of recoverable food waste in our waste stream reduced by 20%, from 77% to 57% Woolworths has diverted an estimated 40,000 tonnes of food waste from landfill and we continue to identify new solutions for food waste 4 Reduce amount of recyclable cardboard in the waste stream to less that 1% by weight Weight of recyclable cardboard in supermarkets rubbish bins was 0.96%