The following statements shows the comparable figures of two companies for the year ended 30 December 2019: Statement of Profit or Loss for the year ended 31 December 2019 Summer Lid Winter Lid E Sales 787.500 812.500 Cost of sales 475.305 531,300 Gross profit 312.195 281.200 Loss: Operating expenses 260.430 170,000 Profit before Lax 51.765 111.200 Included in the operating expenses for both companies are depreciation, interest expense (10%% per annum on loan) and other expenses. Statement of Financial Position as at 31 December 2019 Summer Lid Winter Lid E E E E Non-Current Asset 630.625 811,000 Current Assets: Inventories 104,750 125,000 Cash and bank 36.400 28.000 Receivables 63.200 45.150 Prepayment 3.000 9.000 207.350 207.150 Total Assets 837,975 1,018,150 Shareholders' equity: Capital - Ordinary shares E1 718,000 785.500 Retained profit 61.475 162.525 779.475 948.025 Loan 48,000 41.250 Current Eabilities: Payables 6.500 14.250 Accruals 4.000 14.625 10.500 28.875 Total Equity and Liabilities 837.975 1,018,150