Q1. The following data has been extracted from the records of PURPLE plc at 31 March 2001; Turnover Cost of sales Distribution costs Administration expenses Surplus on sale of fixed assets Interest receivable Losses due to seizure of imported sugar Overdraft interest Loan interest (Loan repayable 31 March 2009) Corporation tax for the year Dividends (interim 0.25p per share) Transfer from reserves 18,108,488 16,471,616 864,531 1,494,228 11,054 21,721 351,890 139,001 162,299 8,101 17,292 1,389,105 You are also given the following information: (a) Number of shares in issue during the year: 7,192,380. (b) Turnover excludes value added tax. (c) Distribution costs and administrative expenses given above include the following items: Depreciation Directors' emoluments Auditors' remuneration Hire of plant and machinery 365,928 105,773 26,020 3,084 You are required to prepare an income statement for publication, together with any notes required. It should comply with the Companies Acts. Reference: Price Waterhouse Coopers (1999) Value Reporting Forecast 2000