Profit and Loss Sheet - thank you so so much!

Income statement for the year ended 30 June 20xx $ Sales Cost of sales Gross profit Other revenue Selling expenses Administrative expenses Finance expenses Depreciation Occupancy expenses Profit before tax Income tax expense Net profit TRANSACTION ANALYSIS WORKSHEET Other current Details Cash Trade receivables Inventories Property, plant & equipment Investments Trade payables Current tax payable Other current liabilities Borrowings Contributed equity Retained earnings assets 3,275 Opening balances 84,844 33,276 34,602 2,738 146,383 135,904 19,905 3,275 3,145 218,810 102,559 90,053 Dividends . Event 1 Opening balance - Retained earnings Income Expenses (6,564) ) (14,638) (50,326) (43,762) Event 2 (14,638) Event 3 19,005) 19,005) (3,600) Event 4 862 3,600 (6,338) 348,800 348,800 4,423 (330,735) 4,423 (330,735) (12,500) 473,376 25,000 Event 5 ... Event 6 Event 7 Event 8 H. Event 9 ........ Event 10 Event 11 Event 12 ... Event 13 12,500 (473,376) (66,000) (349,800) 489,000 (349,800) 549,000 (66,000) 60,000 51,300 (3,275 (15,145) 51,300 25,891 Event 14 (3,145) (29,166) (12,000) 553,423 (484,506) Closing balance - Retained earnings Closing balances 183,357 48,900 33,602 3,600 156,745 135,904 37,970 29,166 16,100 175,048 153,859 (9,005) 149,965 Event Event 1 Transaction The company repays $50326 of its borrowings. This amount includes $6564 of interest. The remaining borrowings are to be repaid over the following five years. Event 2 The accountant determines that depreciation should be recorded at $14638. The accountant estimates that 10 percent of the depreciation is related to selling activities, with the remaining related to administration. Event 3 The company declares and pays a dividend of $9005 to its shareholders. Event 4 The company uses up the remainder of its previous prepaid insurance contract for the first six months of the fiscal year. The company then commences a new contract of total value $7200 costing $3600 upfront for the following 12 months at equal cost per month, including the last six months of the year. The rest forming an other liability due within 12 months. The insurance related to administration. The accountant informs you that other current assets related to prepaid accounts. The company purchased $348800 of inventory from its suppliers. The inventory was purchased on credit. Event 5 Event 6 The company receives a dividend from one of its investments of $4423. Event 7 The company makes payments to inventory suppliers of $330735. Event 8 The company purchased an additional $25000 of motor vehicles. Half was paid in cash, with the remaining on credit. The accountant determines that the credit amount should be allocated to other current liabilities. Event 9 The company collects $473376 from its trade receivables during the year. Event 10 The company pays rent of $5500 per month on a 12-month lease. The rent related to administrative offices. Event 11 The company makes total sales of normal goods and services of $549000. Of this amount $60000 was received in cash at the time of the sale. The value of goods sold in these transactions was $349800. Event 12 The company issued 10260 shares to new investors. These shares were issued at an average price of $5 per share. Event 13 The company paid all corporate income tax owing from the previous period. In addition, the company incurs a further $29166 in corporate income tax that it will pay next year. Event 14 The company paid all wages owing from the previous period, which made up the total opening balance of other current liabilities. In addition, the company paid wages costs of $12000. These wages relate 30 percent remainder to selling expenses. administrative expenses, and the