Page 461 - SBR Integrated Workbook STUDENT S18-J19

Answers

Example 2

Statement of profit or loss and OCI

Pancake Group statement of profit or loss and other comprehensive
income for the year ended 31 March 20X4

$m

Revenue ($450 + $240 – $40 trade) 650
Cost of sales ($260 + $110 – $40 trade + $12 (W2) + $6 (W3)) (348)

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Gross profit 302

Distribution costs ($23 + $12) (35)
Administrative expenses ($29 + $23 + $5 imp. + $4 (W5)) (61)

Share of profits of associate (W4) 4
Investment income ($6 + nil) 6

Finance costs ($8 + $6) (14)
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Profit before tax 202

Income tax expense ($48 + $27) (75)

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Profit for the year 127

Other comprehensive income
Change in revaluation surplus (nil + $2 – $1 (W5)) 1

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Total comprehensive income 128

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455