Fletcher Building Limited Income Statement Fletcher Building Limited Balance Sheet As at 30 June 2017 For the year ended 30 June 2017 2017 NZSM 9,399 2017 2016 2016 NZSM 9,004 NZ$M NZSM Assets Current assets Cash and cash equivalents Sales Cost of goods sold Gross margin Operating expenses Significant items Earnings before interest and taxation Interest costs Profit before taxation Taxation expense Profit after taxation 206 147 2,080 (1,555) (252) 273 2,237 (1,555) Current tax assets Net receivables Inventory 1,525 1,652 1,362 1,479 162 57 105 719 115) 604 131 473 Total current assets Non-current assets Property plant and equipment Other non-current assets Total non-current assets Total assets 3,419 3,222 2,214 2,040 4,254 1,972 2,073 4,045 Liabilities Current liabilities Accounts payable Borrowings Other current liabilities Total current liabilities Borrowings Other non-current liabilities Total non-current liabilities Total liabilities 1,406 269 321 1,996 1,903 194 2,097 4,093 1,342 242 1,997 1,339 218 1,557 3,554 The Annual Report can be downloaded from the website for Fletcher Building assets/4-inves annual-report.pdf, Refer to Note-4 on page 65 of the Annual Report 2017, identify what are the "significant items" in 2017 and discuss the effects of them on the company's profit. qui Total Equit Total liabilities and equity (6 marks maximum of 15 lines) 3,580 013 3,713 Z426Z Discuss one strength and one limitation of ratio analysis. (3 marks maximum of 10 lines)