The following draft accounts have been prepared for Dolan plc for the year ended 31 December 2017:

During the years ended 31 December 2016 and 2017, €400,000 and €500,000 were debited to equity in respect of dividends paid.
Requirement Prepare a brief report for the Board of Dolan plc on the performance of the company during 2017 as compared with the previous year. You should include in your report a schedule of appropriate ratios.

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SUMMARISED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the Years Ended 31 December 2017 2016 000 000 000 000 Revenue 24,350 16,000 23,100 Purchases 16,100 Inventory movement 350 16,450 (400) 15,600 Gross profit 7,900 7,500 Depreciation 100 85 Other operating expenses 6,400 6,365 Finance costs 300 6,800 250 6,700 Net profit before tax 1,100. 800 Income tax expense (300) (200) 800 600 Net profit after tax STATEMENTS OF FINANCIAL POSITION Assets Non-current assets Inventories as at 31 December 2017 2016 000 000 5,750 4,300 3,150 3,500