18.4 The retained profits of Ondex Ltd were as follows:

For the year Carried forward Year l £

200,000 200,000 Year 1 Year 3

£ £

210,000 250,000 410,000 660,000 The chairman, in his report, says that retained profits attributable to shareholders have increased each year.

Comment on the chairman’s statement and restate the figures in a way which is more mean¬ ingful to individual shareholders. A suitable general index moved as follows:
Year 1 190 Year 2 230 Year 3 250