QUESTION 3 You are the management accountant of AISHA Company Ltd. MARIAM Limited is a major competitor in the same industry and it has been operating for 20 years. Summary of MARIAM Limited's statements of profit or loss and financial position for the previous three years are given below. SUMMARISED STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DEC. 2016 2017 2018 GHSm GHSm GHSm Revenue 840 981 913 Cost of sales 554 645 590 286 336 323 Gross profit Selling, distribution and admin. expenses 186 214 219 Profit before interest 100 122 104 Interest 6 15 19 Profit before taxation 94 107 85 Taxation 45 52 45 Profit after taxation 49 55 40 Dividends 24 24 24 SUMMARISED STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2016 2007 2008 GHSm GHSm GHSm ASSETS ASSETS Non-current assets: 36 40 48 Intangible assets Tangible assets at net book value 176 206 216 212 246 264 Current assets: Inventories 237 303 294 Receivables 105 141 160 4 Bank 52 58 52 606 748 770 EQUITY AND LIABILITIES 2016 2017 2018 100 100 100 Equity: Stated capital Income surplus 299 330 346 399 430 446 Non-current liabilities: Non-current liabilities: Long Term Loans 74 138 138 Current Liabilities: 53 75 Trade Payables Other Payables 75 80 105 111 606 748 770 Required: Write a report to the finance director of AISHA Company Limited analyzing the performance of MARIAM Company Limited and showing any calculations in an appendix to this report. 12 marks