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These financial statements have been modified for academic and examination purposes The Bahrain Ship Repairing and Engineering Company BSC 11 CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 December 2020 Bahraini Dinars Note 2020 2019 ASSETS 6 4,853,907 4,421,021 Noncurrent Assets Equity investment securities Debt investment securities Investment properties Right-of-use assets Property, plant and equipment 7 1,972,300 1,975,850 2,711,052 2,848,733 9b 1,692,304 1,766,482 9a 5,058.355 5.105.845 Total non-current assets Current Assets Cash and bank balances 1,793,393 6,067,666 Bank deposits 5 8,498,355 Trade receivables 15,549,550 889,006 10 1,879,127 Due from contract customers 16 b 267,560 2,058,139 Inventories 11 443,679 469,604 Other assets 12 515,231 476,215 Total current assets Total assets EQUITY AND LIABILITIES Equity Share capital 13 1,980,000 1,980,000 5,470,630 Reserves 4,960,866 Retained earnings 24,174,153 23,840,998 Total equity 31,624,783 30,781,884 Liabilities Lease liabilities 15 b 1,641,912 1,681,050 14 Employees' benefits 668,106 684,142 Total non-current liabilities Trade payables 352,795 869,010 Lease liabilities 15 a 1,458,801 1,550,971 Total current liabilities Total liabilities Total equity and liabilities The consolidated financial statements were approved by the Board of Directors on 24 February 2021 and signed on its behalf by. 74 Fawzi Ahmed Kanoo Khalid Yousuf Abdul Rahman These financial statements have bee modified for academic and examination purposes The Bahrain Ship Repairing and Engineering Company BSC 12 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the year ended 31 December 2020 Bahraini Dinars Note 2020 2019 REVENUE Revenue from contract with customers 16 8,333,591 5,106,993 442,330 Interest income 465,330 Dividend income 250,700 233,015 Other income 17 414,600 484,189 Total revenue EXPENSES Staff cost 1,556,533 1,789,181 Materials cost 862,512 1,252,069 18 1,077,717 1,924,236 Subcontract and overhead cost Depreciation and amortization 611,080 575,420 19 620,384 811,929 Other operating expenses Interest expenses-leased property 88,384 88,180 Total expenses Profit for the year QUESTION 1 How much is total Cash and bank balances in 2020 (in million BD)? O 1.793 million BD. 14.867 million BD 6.068 million BD 23.343 million BD QUESTION 2 How much is total current assets in 2019? 19.449 million BD 35.567 million BD 19.458 million BD 35.746 million BD QUESTION 3 How much is total noncurrent assets 2019? 16,118 thousand BD 16,288 million BD 16,117 million BD 16,288 thousand BD QUESTION 4 How much is total noncurrent liabilities 2020? 2,365 million BD O2,365 thousand BD 2,310 million BD 2,310 thousand BD QUESTION 5 How much is total current liabilities 2020? 1,812 thousand BD 2,420 thousand BD 869 thousand BD 353 thousand BD QUESTION 6 How much is interest revenues in 2020? 442 thousand BD 693 thousand BD 698 thousand BD 465 thousand BD QUESTION 7 How much is total expenses in 2020? O 6.441 thousand BD O6.441 million BD 4.815 million BD 4.815 thousand BD QUESTION 8 What type of income statement is used by the company? O Revenue based income statement O Single step income statement O Multiple step income statement O Expenses based income statement QUESTION 9 If the reader of the financial statement wants more information about subcontract and overhead costs, which note should they refer to? O Note 19 O Note 18 There is no specific note for this item Note 17 QUESTION 10 Assume that Cost of goods sold for The Bahrain Ship Repairing and Engineering company for the year 2020 was 2.5 million BD. Calculate its gross profit for 2020. O 3.715 million BD O 5.834 million BD 2.606 million BD O 7.016 million BD