Gondola Ltd

The following statements are provided for Gondola Ltd for the year ended 31 December 2020.

Statement of profit or loss and other comprehensive income for the year ended 31 December 2020

Revenue 7050

Cost of sales -3250

Gross profit 3800

Distribution costs -650

Administration expenses -344

Operating profit 2806

Interest receivable and similar income 136

Interest payable and similar charges -102

Profit on ordinary activities before taxation 2840

Tax on profit on ordinary activities -795

Profit for the year 2045

Statement of financial Position as at 31 December 2020

2020 2019

000 000

ASSETS

Non-current assets 2,600 1,920

Plant at cost 2,860 2,060

Accumulated depreciation -860 -660

Carrying amount 2,000 1,400

Equipment at cost 1,260 1,140

Accumulated depreciation -660 -620

Carrying amount 600 520

Current assets 3045 1,000

Inventory 370 410

Trade receivables 590 290

Investments 1,475 -

Bank and cash 610 300

5,645 2,920

EQUITY AND LIABILITIES

Capital and reserves 4,445 2,450

Share capital 2,300 2,000

Share premium 100 -

Retained earnings 1,085 450

Current liabilities 1200 470

Bank overdraft - 100

Trade payables 690 305

Taxation 650 55

Dividends 60 10

5,645 2,920

Additional information

1. Depreciation of non-current assets has been charged to distribution costs.

2. Included in administration expenses is N$30 000 paid in connection with the share issue.

3. Plant with a carrying amount of N$600 000, which had originally cost N$1 000 000 was sold during the year for N$800 000.

4. Equipment with a carrying amount of N$60 000, which had originally cost N$200 000 was sold during the year.

5. Dividends of N$200 000 was declared during the year ended 31 December 2020.

compile cashflow satement