The draft financial statements of Hibiscus Limited for the year ended 31 December 2016 are as below: Statement of profit or loss and other comprehensive income For the year ended 31 December 2016 $m Revenue 128,300 Cost of sales (25,850) Gross profits 102,450 Administration expense (2,750) (1,178) Distribution expense Profits before tax 98,522 (10,3400 Taxation Profits for the year Note 1) 88,182 other comprehensive income Revaluation of property 10,500 Total comprehensive income for the year 98,682