Pro forma statements of profit or loss for financial years ended 2022 to 2025 (in HKD mn) Sales revenue Actual 2021 Costs of goods sold Sales growth rate Costs of goods sold as a percentage of sales Selling and distribution expenses as a percentage ot Other operating expenses (excluding depreciation) as Gross profit Selling, distribution and marketing expenses Other operating expenses Depreciation expense Operating profit Interest expense Profit before tax Income tax expense Profit after tax Workings (not included in the statement): Dividends paid Amount transferred to retained earnings Pro forma statements of financial position as at 31 December 2022 to 2025 (in HKD mn) Non-current assets Land and buildings Plant and machinery Investments in financial securities Total non-current assets Current assets Inventories Accounts and other receivables Cash and cash equivalents Total current assets Total assets Non-current liabilities Fixed rate loan Total non-current liabilities Current liabilities Short term loans and overdrafts Accounts and other payables Total current liabilities Total liabilties Equity Share capital Retained earnings Total equity Total liabities and equity Actual 2021 2022 HKD mn KDmn2023 KDmn2024 2025 a percentage of sales Depreciation as a percentage of net book value of plant and machinery at current year end Short-term borrowing interest rate Fixed rate loan interest rate Corporate tax rate Dividend payout ratio mn ) 2022 2023 \begin{tabular}{|l|l|} 2024 & 2025 \\ \hline 4.5% & 3.5% \end{tabular} 45% 45% 45% 14% 45% 16% 16% 16% 16% 11% 11% 11% 11% 7.5% 7.5% 7.5% 7.5% 54% 54% 54% 54% 59 Question 2. Based on the assumptions sheet, construct the pro forma financial statements (which include a Balance Sheet and an Income Statement) for Taste Good. Use Pro Forma Template. Please download the attached excel sheets as follows, Attached files: Taste Good Limited_Assumption and Template Construct the pro forma financial statements in Pro Forma Template. Show all your work and formulas or explanations to receive full credit. Even if your answer is incorrect, you may still earn partial credit based on the correctness of your work. The severity of the error will be taken into account when determining the amount of credit to be awarded. If your answer is incorrect and you haven't shown any work or calculation steps in excel spread sheet, you will not receive any credit for that question. Pro forma statements of profit or loss for financial years ended 2022 to 2025 (in HKD mn) Sales revenue Actual 2021 Costs of goods sold Sales growth rate Costs of goods sold as a percentage of sales Selling and distribution expenses as a percentage ot Other operating expenses (excluding depreciation) as Gross profit Selling, distribution and marketing expenses Other operating expenses Depreciation expense Operating profit Interest expense Profit before tax Income tax expense Profit after tax Workings (not included in the statement): Dividends paid Amount transferred to retained earnings Pro forma statements of financial position as at 31 December 2022 to 2025 (in HKD mn) Non-current assets Land and buildings Plant and machinery Investments in financial securities Total non-current assets Current assets Inventories Accounts and other receivables Cash and cash equivalents Total current assets Total assets Non-current liabilities Fixed rate loan Total non-current liabilities Current liabilities Short term loans and overdrafts Accounts and other payables Total current liabilities Total liabilties Equity Share capital Retained earnings Total equity Total liabities and equity Actual 2021 2022 HKD mn KDmn2023 KDmn2024 2025 a percentage of sales Depreciation as a percentage of net book value of plant and machinery at current year end Short-term borrowing interest rate Fixed rate loan interest rate Corporate tax rate Dividend payout ratio mn ) 2022 2023 \begin{tabular}{|l|l|} 2024 & 2025 \\ \hline 4.5% & 3.5% \end{tabular} 45% 45% 45% 14% 45% 16% 16% 16% 16% 11% 11% 11% 11% 7.5% 7.5% 7.5% 7.5% 54% 54% 54% 54% 59 Question 2. Based on the assumptions sheet, construct the pro forma financial statements (which include a Balance Sheet and an Income Statement) for Taste Good. Use Pro Forma Template. Please download the attached excel sheets as follows, Attached files: Taste Good Limited_Assumption and Template Construct the pro forma financial statements in Pro Forma Template. Show all your work and formulas or explanations to receive full credit. Even if your answer is incorrect, you may still earn partial credit based on the correctness of your work. The severity of the error will be taken into account when determining the amount of credit to be awarded. If your answer is incorrect and you haven't shown any work or calculation steps in excel spread sheet, you will not receive any credit for that
