What you have seen relating to its cash flows, its income, and its balance sheet over the period 2014-2018, (i) has the company Deb been engaged in earnings management or income smoothing? And (ii) should the company Deb be considered a going concern?

1.967.9 2,265.0 2,101. Total liabilities and Equity 2015 Em (2,023.5) 299.2 (111.1) (54.0 2014 Em 2,312.7 (2,033.4) 279.3 (98.5) (52.2) 134.1 128.6 Debenhams 5-year Income Statements I 2017 2018 2016 Debenhams Em Em Em Income Statements 2,277.0 Revenue 2,335.0 2,341.7 Cost of Sales (2,044.8) (2,046.1) (2,039.8) Gross Profit 232.2 288.9 301.9 Distribution costs (133.6) (124.5) (115.4) Administration expenses (55.2 (56.9) (55.5) Operating profit before 43.4 107.5 131.0 exceptional items Exceptional items (524.7) (36.2) (12.4) Operating (loss)/profit (481.3) 71.3 118.6 Net-recurring finance costs (10.2) (12.3) (12.8) Non-recurring finance costs (Loss)/profit before taxation (491.5) 59.0 105.8 Taxation 31.3 (10.2) (19.9) (Loss)/profit for the financial year attributable to owners of (460.2) 48.8 85.9 the Parent Company Share of non-integral associate (0.8) Profit for the financial year after share of associate attributable to equity holders of the Parent (461.0) 48.8 85.9 Company 134.1 (20.6) 128.6 (18.3) (4.5) 105.8 (18.6) (4933 1929 193 113.5 (20.0) 93.5 87.2 93.5 87.2 W Xiana.C. Word w Documenti - Word R u5574 RU55752 BUS574 R11557542 dow Help Debenhams AR18 BUSSONUSS. BUTOBUSS 2018 Em 2015 2017 Em 2016 2014 Em Em Em 1991.9 654.9 962.1 670.2 931.5 675.3 892.8 689.2 1.7 12.0 17.4 619.4 603.7 6.7 7.0 20.4 159.4 23.2 1,439.8 528.1 1,967.9 6.4 Debenhams Balance Sheets Assets Non-current assets Intangible assets Property, plant and equipment Investments in associate Financial assets Trade and other receivables Retirement benefit surplus Deferred tax assets Total non-current assets Current Assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Shareholders' equity Share capital Share premium account Other reserves Retained earnings Total equity Total liabilities and Equity 20.1 19.3 80.9 15.3 1,764.0 501.8 2,265.8 14.2 14.9 26.2 20.8 1,682.9 459.7 2.142.6 6.6 15.6 6.9 51.0 1,662.1 486.3 2,148.4 1,688.2 502.8 2,191.0 807.0 671.5 1,478.5 728.0 620.2 1,348.2 688.2 618.9 1,307.1 695.7 593.6 1,289.3 758.0 623.0 1,381.0 0.1 682.9 0.9 (194.5) 489.4 1,967.9 0.1 682.9 (8.7) 243.3 917.6 2,265.8 0.1 682.9 22.9 178.0 883. 9 2,191.0 0.1 682.9 2.4 167.9 853. 3 2,142.6 0.1 682.9 (16.3) 100.7 767.4 2,148.4 52 weeks ended 1 September 2018 Em 52 weeks ended 2 September 2017 fm Note 137.5 0.1 (11.1) 1.3 127.8 200.4 0.1 (11.2) (16.3) 173.0 (72.6) (52.2) (105.3) (30.7) 7.1 (7.5) (136.4) (124.31 Cash flows from operating activities Cash generated from operations Finance income Finance costs Tax received/(paid) Net cash generated from operating activities Cash flows from investing activities Purchase of property, plant and equipment Purchase of intangible assets Proceeds from the sale of property, plant and equipment Investment in associate Net cash used in investing activities Cash flows from financing activities Drawdown/repayment) of revolving credit facility Dividends paid Purchase of shares by Debenhams Retail Employment Trust 2004 Finance lease payments Debt amendment costs Net cash generated from/(used in) financing activities Net increase/(decrease) in cash and cash equivalents Net cash and cash equivalents at beginning of financial year Foreign exchange (losses/gains on cash and cash equivalents Net cash and cash equivalents at end of financial year 66.0 (35.6) (25.0) (42.0) (0.8) (1.6) (69.4) (1.6) (0.8) 28.0 19.4 19.7 (0.2) (21.2) 40.8 0.1 19.7 38.9 74%20BU5575. W] Xiang.C - Word W Document1 - Word P BU5574_BU5575%2... PE BU5574_BU5575%2... WeChat for Web.... X Puma%20example... Debenhams A 1.967.9 2,265.0 2,101. Total liabilities and Equity 2015 Em (2,023.5) 299.2 (111.1) (54.0 2014 Em 2,312.7 (2,033.4) 279.3 (98.5) (52.2) 134.1 128.6 Debenhams 5-year Income Statements I 2017 2018 2016 Debenhams Em Em Em Income Statements 2,277.0 Revenue 2,335.0 2,341.7 Cost of Sales (2,044.8) (2,046.1) (2,039.8) Gross Profit 232.2 288.9 301.9 Distribution costs (133.6) (124.5) (115.4) Administration expenses (55.2 (56.9) (55.5) Operating profit before 43.4 107.5 131.0 exceptional items Exceptional items (524.7) (36.2) (12.4) Operating (loss)/profit (481.3) 71.3 118.6 Net-recurring finance costs (10.2) (12.3) (12.8) Non-recurring finance costs (Loss)/profit before taxation (491.5) 59.0 105.8 Taxation 31.3 (10.2) (19.9) (Loss)/profit for the financial year attributable to owners of (460.2) 48.8 85.9 the Parent Company Share of non-integral associate (0.8) Profit for the financial year after share of associate attributable to equity holders of the Parent (461.0) 48.8 85.9 Company 134.1 (20.6) 128.6 (18.3) (4.5) 105.8 (18.6) (4933 1929 193 113.5 (20.0) 93.5 87.2 93.5 87.2 W Xiana.C. Word w Documenti - Word R u5574 RU55752 BUS574 R11557542 dow Help Debenhams AR18 BUSSONUSS. BUTOBUSS 2018 Em 2015 2017 Em 2016 2014 Em Em Em 1991.9 654.9 962.1 670.2 931.5 675.3 892.8 689.2 1.7 12.0 17.4 619.4 603.7 6.7 7.0 20.4 159.4 23.2 1,439.8 528.1 1,967.9 6.4 Debenhams Balance Sheets Assets Non-current assets Intangible assets Property, plant and equipment Investments in associate Financial assets Trade and other receivables Retirement benefit surplus Deferred tax assets Total non-current assets Current Assets Total assets Liabilities Current liabilities Non-current liabilities Total liabilities Shareholders' equity Share capital Share premium account Other reserves Retained earnings Total equity Total liabilities and Equity 20.1 19.3 80.9 15.3 1,764.0 501.8 2,265.8 14.2 14.9 26.2 20.8 1,682.9 459.7 2.142.6 6.6 15.6 6.9 51.0 1,662.1 486.3 2,148.4 1,688.2 502.8 2,191.0 807.0 671.5 1,478.5 728.0 620.2 1,348.2 688.2 618.9 1,307.1 695.7 593.6 1,289.3 758.0 623.0 1,381.0 0.1 682.9 0.9 (194.5) 489.4 1,967.9 0.1 682.9 (8.7) 243.3 917.6 2,265.8 0.1 682.9 22.9 178.0 883. 9 2,191.0 0.1 682.9 2.4 167.9 853. 3 2,142.6 0.1 682.9 (16.3) 100.7 767.4 2,148.4 52 weeks ended 1 September 2018 Em 52 weeks ended 2 September 2017 fm Note 137.5 0.1 (11.1) 1.3 127.8 200.4 0.1 (11.2) (16.3) 173.0 (72.6) (52.2) (105.3) (30.7) 7.1 (7.5) (136.4) (124.31 Cash flows from operating activities Cash generated from operations Finance income Finance costs Tax received/(paid) Net cash generated from operating activities Cash flows from investing activities Purchase of property, plant and equipment Purchase of intangible assets Proceeds from the sale of property, plant and equipment Investment in associate Net cash used in investing activities Cash flows from financing activities Drawdown/repayment) of revolving credit facility Dividends paid Purchase of shares by Debenhams Retail Employment Trust 2004 Finance lease payments Debt amendment costs Net cash generated from/(used in) financing activities Net increase/(decrease) in cash and cash equivalents Net cash and cash equivalents at beginning of financial year Foreign exchange (losses/gains on cash and cash equivalents Net cash and cash equivalents at end of financial year 66.0 (35.6) (25.0) (42.0) (0.8) (1.6) (69.4) (1.6) (0.8) 28.0 19.4 19.7 (0.2) (21.2) 40.8 0.1 19.7 38.9 74%20BU5575. W] Xiang.C - Word W Document1 - Word P BU5574_BU5575%2... PE BU5574_BU5575%2... WeChat for Web.... X Puma%20example... Debenhams A