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Question 1 Sameer Gold plc has just set up a new of te in Lahore. It purchased a new computer system an d software. However,
Question 1 Sameer Gold plc has just set up a new of te in Lahore. It purchased a new computer system an d software. However, the computer system crashed following a power surge and some of the dat a was lost. The latest version of their proft and loss account is shown below, but it has some ga ps. Your task is to calculate the figures that should be in these gaps and then to complete the ac count Profit and loss account - Sameer Gold plc year ended 31st May 2019($'000's) 2018 2019 3,000 800 Sales revenue Cost of goods sold Gross profit 1200 1,800 800 Expenses Depreciation 80 150 400 Net profit before interest and tax *** 50 30 Interest Taxation 150 80 Page 1 of 2 50 Net profit after interest and tax Dividends Retained profit 135 (to balance sheet) When you have completed this task, identify the changes between the two years and provide an explanation for them
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