Dannys year end is 30 April each year. At 30 April 2017 costs of K415,625 had been incurred on a contract to construct a feeder road under the Road Development Agency. The value of work certified at the end of the period was K366,842. The contract price is K546,250 but it is anticipated that the final costs at 30 September 2017, when the contract is expected to end, will be K599,554.

Calculate the following:

(i) The anticipated future loss on the contract

(ii) The revenue figure for the period to 30 April 2017.

(iii) The cost of sales figure for the period to 30 April 2017.