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10.7 Goliath plc is a food wholesaler. The most recent financial statements of the business are as follows: Income statement for the year to 31 May Sales revenue Cost of saes Opening invmtories Purchases Closing inventories Gross profit Ad ministration exW1ses Selling expenses Operating profit Interest payable Profit before taxation Taxator-, (25%) Profit for the period 550.0 1.450.0 2,000.0 (560.0) Statement of financial position as at 31 May ASSETS Non-current assets Property, plant and equipment Current assets Inventories T rade receivables Cash at bank Total assets cooo 2,400.0 (1.440.0) 960_o (300.0) (436.0) 224.0 (40.0) 1B4_o (46.0) 138.0 456.4 560.0 565.0 36.4 1 161.4 1 617.8