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Your assistance on this question will be really helpful. Needed asap QUESTION SEVENTEEN (10 marks in total...' part to the question) The following information relates
Your assistance on this question will be really helpful. Needed asap
QUESTION SEVENTEEN (10 marks in total...' part to the question) The following information relates to Sammy Ltd for the year ended 30th June 2018. Sales Interest revenue Dividend revenue Revenue - Land sale Cost of goods sold Wages and salaries Superannuation expense Long service leave expense Interest expense Depreciation expense - Plant Depreciation expense - Equipment Depreciation expense - Buildings Doubtfu I debts expense Expense - of Land sold Income tax exlknse s '000 1 975 895 450 95 20 65 65 45 59 Additional information not reflected in the information above The carrying amount of inventory was found to exceed its net realisable value by S75 When reviewing the carrying amount of plant, the directors determined that its carrying amount exceeds its recTverabIe amount by S45 000. The directors decided to revalue equipment. The fair value of equipment exceeded its carrying amount by $45 The company's warehouse was damaged by fire. The damage to the warehouse was SKO 000 and to the contents was $75 000 The insurance company is refusing to cwver the claim, on the basis that the fire alarms in the building were not properly installed. The income tax rate is 30%. Required: Prepare a Statement of Profit or Loss and Other Comprehensive Income for Sammy Ltd for the year ended 30th June 2018. (10 marks)
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