Page 302 - AFM Integrated Workbook STUDENT S18-J19

Chapter 14

Question 1

The following shows the statement of profit or loss and statement of financial
position for Zed Manufacturing for the years ended 31 December 20X7 and 31
December 20X8:

Summarised statement of profit or loss ($m)

20X7 20X8
Revenue 840 830

Cost of sales 554 591

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Gross profit 286 239

Selling, distribution and admin. expenses 186 182

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Profit before interest 100 57

Interest 6 8
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Profit before tax 94 49

Tax (standard rate 50%) 45 23
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Profit for the year 49 26
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