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Use the information provided below to answer the following questions: (25 Marks) 3.1 Prepare the Pro Forma Statement of Comprehensive Income for the year
Use the information provided below to answer the following questions: (25 Marks) 3.1 Prepare the Pro Forma Statement of Comprehensive Income for the year ended 31 May 2022 using the percentage-of-sales method. (6 marks) 3.2 Prepare the Pro Forma Statement of Financial Position as at 31 May 2022. (14 marks) 3.3 Is the company likely to experience liquidity problems during the financial year ended 31 May 2022? Motivate your answer with the relevant ratios. (5 marks)
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