CompLab_EQ9.12_Hoggett_Template

PREPARATION OF INCOME STATEMENT DATA SECTION Cost of Sell/Admin Developmt Interest y Tax 7 Profit before tax 30/6/19 Sales Sales & Fin, Exps Flood less costs w/off Revenue Bad Debts Rate S 220,000 $ 580,000 $ 234,000 $ 72,000 $ 14,000 $ 22,000 $ 18,000 $ 36,000 30% 10 Required: Prepare the income statement for the year ended 30 june 2016 17 12 SOLUTION SECTION 13 NEVERTIRE LTD 14 Income Statement 15 for the year ended 30/6/2019 Sales - COG5 + Income - expense 16 Profit before tax - tax expense = Profit/Loss after tax 17 10 19 20 21 22 23 24 26 24 30 31