Answered step by step
Verified Expert Solution
Question
1 Approved Answer
bundle I UTUimary Sharenolders 1.2. The following are the statements of comprehensive income for Ndlovu Automotive Spares (Pty) Ltd for the financial years 2017 and
bundle I UTUimary Sharenolders 1.2. The following are the statements of comprehensive income for Ndlovu Automotive Spares (Pty) Ltd for the financial years 2017 and 2018: Ndlovu Automotive Spares (Pty) Ltd Statements of comprehensive income for 2017 and 2018 2018 2017 Revenue Salas 3 650 000 2 450 000 Cost of goods sold as 2 482 000 1 519 000 Gross profit 71 168 000 931 000 Operating expenses 642 400 539 980 Administrative expenses 233 600 139 650 Sales and distribution expenses 140 160 93 100 Operating profit CERO ) 151 840 158 270 Finance expenses 14 000 16 000 Net profit before taxation 137 840 142 270 Taxation (30%) 41 352 42 681 Profit for the year 96 488 99 589 HAPTER 3 Required: Use the information provided above to prepare a set of common-size statements of comprehensive income for Ndlovu Automotive Spares (Pty) Ltd for both 2017 and 2018. Compare the results of your calculations for each line item in the statements of comprehensive income for 2017 to 2018 and indicate whether the results for each line item remained "Unchanged", or changed to "Better" or "Worse". Round off all your final answers to calculations to one decimal place. (15)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started