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URGENT SOLUTION You are the audit senior and reviewing the income statement for your client Ralph Co. Extracts from the statement of profit and loss

URGENT SOLUTION

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You are the audit senior and reviewing the income statement for your client Ralph Co. Extracts from the statement of profit and loss year ended 31st December 2021 is given below. 31st Dec 2021 31st Dec 2020 Revenue 7,482 6,364 Cost of Sales 3,520 4,253 Administrative expenses 1,235 1,320 Selling and distribution 981 681 Using appropriate analytical procedures explain whether the reported income statement seems reasonable. (4 marks)

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