Question
Extracts Income Statements and Balance Sheets 2017 2018 2019 Sales 3,840 5,760 8,448 Cost of Sales 1,920 2,688 5,608 Distribution costs 384 462 676 Administrative
Extracts Income Statements and Balance Sheets | 2017 | 2018 | 2019 |
Sales | 3,840 | 5,760 | 8,448 |
Cost of Sales | 1,920 | 2,688 | 5,608 |
Distribution costs | 384 | 462 | 676 |
Administrative expenses | 1095 | 1,268 | 1,260 |
Interest expense (paid) | 135 | 192 | 576 |
Taxation | 76 | 268 | 150 |
Retained Profit | 115 | 652 | 128 |
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Fixed assets at cost | 1,765 | 2,285 | 4,915 |
Accumulated depreciation | 192 | 422 | 1,690 |
Closing Inventory at cost | 154 | 346 | 752 |
Trade receivables | 384 | 961 | 1,589 |
Prepayments | 55 | 192 | 230 |
Overdraft | 176 | 211 | 2,262 |
Trade payables | 190 | 308 | 624 |
Accruals | 155 | 384 | 576 |
Taxation payable | 76 | 268 | 150 |
Debentures | 640 | 385 | 250 |
Ordinary share capital 1 | 775 | 1000 | 1000 |
Retained earnings/Reserves | 154 | 806 | 934 |
Can you help me explain why the net profit for 2018 is 1150?
Please explain with the precise calculations as well. Thank you!
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