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Hi there, i really need help on my final year assignment to score! thanks! Question 1 1a) Using Exhibit 1 and 2, prepare the common-size
Hi there, i really need help on my final year assignment to score! thanks!
Question 1 1a) Using Exhibit 1 and 2, prepare the common-size income statement and the common-size balance sheet for the years ending 31 March 2013 to 31 March 2015. (5 marks)
1b) Using information provided in Exhibits 1 and 2, prepare the statement of cash flows for the years ending 31 March 2014 and 2015 using the indirect method. (10 marks)
EXHIBIT 1: INCOME STATEMENT, APRIL 1 To MARCH 31 (IN THOUSANDS) 2012-13 2013-14 2014-15 Sales 200 480 800 Cash Credit 1,800 7.200 8.000 Total sales 2.000 4,800 1,240 2,832 4800 Cost of goods sold Gross profit 760 1968 3200 Operating expenses 1,000 General, administration, and selling expenses 80 450 100 400 Depreciation 660 158 340 nterest expenses (on borrowings 60 Profit before tax PBT 520 960 1,200 Tax 30% 1561 288 360 Profit after tax (PA 364 672 840 Source: Company's audited financial statementStep by Step Solution
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