Interpreting Financial Reports Jet Airways (India) Ltd. is a major airline in India. The following items appeared in the company's IFR 2.1 recent financial statements: Jet Airways (India) 1. Aircraft fuel consumed 2. Employee benefits Limited 3. Deferred tax liability 4. Travel agents' commission 5. Purchase of investments 6. Provision for gratuity 7. Proceeds from sale of fixed assets 8. Net cash from operating activities 9. Share capital 10. Repayment of term loans and subordinated debt 11. Interest and finance charges 12. Frequent flyer points not availed of 13. Inventories 14. Aircraft lease rental 15. Wealth tax paid 16. Capital expenditure - aircraft and others 17. Dividend paid 18. Short-term borrowings 19. Unpaid dividend 20. Deposit with service tax department Required 1. Identify the financial statement - balance sheet, statement of profit and loss, statement of changes in equity, or statement of cash flows - in which you would expect to see each of the items and indicate whether it is a revenue, expense, asset, liability, equity, operating cash flow, investing cash flow, or financing cash flow. 2. Give any five items that do not appear in the above list but you would expect to see in the financial statements. 3. Verify your answers with the help of the information in the financial statements