Subject: financial reporting

4. Sundance Co -Statement of Profit or Loss and Other Comprehensive Income Sundance Co, a pharmaceutical manufacturing company, has an authorised share capital of 800,000 ordinary shares of SOc each Balances extracted from the books of account of the the following position company as on 31 March 2006 showed Rent expenses Heat and light Carriage outwards Bad debts 16,810 15,410 4,810 14,000 9,000 5,160 12,000 14,000 ,980 158,410 36,980 contents Repairs to plant and equipment Stationery Postage Office salaries Directors Salaries-sales 41,000 39,000 1,440 12,000 16,000 1,440,000 810,000 264,000 14,000 2,454,000 28,000 3,320,000 400,000 112,000 - other Bank interest paid Dividends paid Non-current assets at cost-frechold property plant and equipment - furniture and fixtures Loan interest paid Purchases Rents received Share capital Inventories as at 31 March 2005 You alse obtain the following information 1) Frechold property, plant and equipment, and furniture and fixtures are written off over periods of 40 years, 4 years and 8 years respectively. None of the assets have been fully depreciated. Depreciation has not been provided for the current year. (2) Inventories as at 31 March 2006 have been valued at 176,000. (3) Income tax of 36,000 is to be provided for the year (4) The directors declared a total dividend for the year of Se per ordinary share on 20 April 2006. The financial statements were authorised for issue on 13 May 2006. Required Prepare the Statement of Profit or Loss and Other Comprehensive Income of Sundance Co for the year ended 31 March 2006, in a form suitable for presentation to members. You do not need to prepare any notes. Tuterial note: Think carefully abont classification of expenses in Working1 -Cost Classification