=+Question 1 (Based on ICAI, P3 Summer 1997, Question 2)

The consolidated statement of comprehensive income of VOYAGE ple for the year ended 31 December 1996 and the statement of financial position as at that date are shown below.

VOYAGE plc Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2003

€'000 Revenue 74,364 Cost of sales (56,680)

Gross profit 17,684 Net operating expenses (8,906)

Operating profit 8,778 33, STATEMENT OF CASH FLOWS — CONSOLIDATED 647 Exceptional items:

— profit on sale of property, plant and equipment 388 Interest receivable and similar income 616 Interest payable and similar charges (447)

Profit on ordinary activities before taxation 9,933 Tax on profit on ordinary activities (3,081)

Profit on ordinary activities after taxation 6,254 Equity non-controlling interest (83)

Profit for financial year 6,171 VOYAGE ple