Question 5 The financial statements of Radio Ltd are provided for the year ended 31 December 20x5: Radio Ltd - Statement of profit or loss for the year ended 31 December 20X5 Revenue Cost of Sales Gross profit Distribution costs Administrative expenses Profit from operations Investment income Finance cost Profit before tax Income tax expense Profit for the year $000 2,753 (1,814) 939 (125) (264) 550 25 (75) 500 (160) 340 Radio Ltd - Statements of financial position as at 31 December 20x5 20X4 $000 $000 ASSETS Non-current assets Property, plant and equipment Intangibles Investments Current assets Inventories Receivables 282 143 305 231 21 125 112 494 315 35 104 181 31 1,422 957 Short-term investments Cash in hand Total assets EQUITY AND LIABILITIES Equity Share capital ($1 ordinary shares) 210 150 Share premium 147 120 Revaluation surplus 130 100 Retained earnings 350 145 Non-current liabilities Long-term loan Current liabilities 125 74 Taxation Trade payables Accruals Bank overdraft Total equity and liabilities The following information is available: 180 125 85 58 55 75 140 110 1,422 957