• • 1. the main differences between the format of the statement of financial performance for MMI Accessories Ltd you set out in part a) and how Moira Ramez's sole trader financial statements would have presented the information. Use the examples of:
  • • Salaries
  • • Taxation

Explain the reasons for these differences.

(4 marks)

• • 2., describe the main differences between the statement of financial position for MMI Accessories Ltd (you prepared in part b) and how Moira Ramez's sole trader balance sheet would have presented the information. Such differences should be limited to:
  • • The layout of the non-current assets section
  • • The accounts reflected in the equity section

Explain the reasons for these differences.

(4 marks)

• • 3.Advise MMI Accessories Ltd on the dividend to pay out (as a percentage of the nominal value of the shares issued) in terms of prudence and feasibility. In the argument supporting your advice, take into consideration the amounts of:
  • • Profit
  • • Cash
  • • Retained earnings

(2 marks)