SILVERLID Income Statement for the year ended 30 June 2014 INCOME Sales revenue EXPENSES Cost of sales $810 000 $480 000 20 000 10 000 221 000 Other expenses PROFIT 731 000 $79 000 2 The following data relate to Silver Ltd SILVER LTD Comparative Statements of Financial Position as at 30 June 2013 2014 ASSETS Cash at bank 37 000 96 000 80 000 10 000 150 000 100 000 45 000 $518 000 $ 26 000 90 000 100 000 12 000 200000 160 000 100 000 $688 000 receivable Inventory Investments Machinery (net) Buildings (net) LIABILITIES AND EQUITY Accounts paya 65 000 4 000 75 000 3 000 payable