QUESTION In June 2012, the shareholders of Happy Ltd, a private company, decided to list on the Ghana stock exchange to make a public offer of its shares. The financial statements of the company for the year 2012 are given below: Statement of comprehensive income for the year ended 30th June 2012 Turnover Cost of Sales Gross Profit Selling, general and administrative expenses Profit before tax Tax Profit after tax Proposed dividend Retained Profit GHS 212,600 (58,900) 153,700 (86,400) 67,300 (12,300) 55,000 (9,000) 46,000 Statement of financial position as at 30 June 2012 GHS 40,000 Patent Tangible Assets Stocks Debtors Bank & Cash Trade Creditors Accrued Charges 18% Debenture 236,000 26,520 25,800 7,200 (11,600) (1,600) (13,000) 309,320 Stated Capital Share Deal:s Income surplus 200,000 25,820 83,500 309,320 Additional information QUESTION In June 2012, the shareholders of Happy Ltd, a private company, decided to list on the Ghana stock exchange to make a public offer of its shares. The financial statements of the company for the year 2012 are given below: Statement of comprehensive income for the year ended 30th June 2012 Turnover Cost of Sales Gross Profit Selling, general and administrative expenses Profit before tax Tax Profit after tax Proposed dividend Retained Profit GHS 212,600 (58,900) 153,700 (86,400) 67,300 (12,300) 55,000 (9,000) 46,000 Statement of financial position as at 30 June 2012 GHS 40,000 Patent Tangible Assets Stocks Debtors Bank & Cash Trade Creditors Accrued Charges 18% Debenture 236,000 26,520 25,800 7,200 (11,600) (1,600) (13,000) 309,320 Stated Capital Share Deal:s Income surplus 200,000 25,820 83,500 309,320 Additional information