Please show each step of calculation. Thanks in advance. The summarized consolidated financial statements of the ALBA Group for the yearended 30 April 2019 are as follows:ALBA Group: Consolidated income statement for the year ended 30 April 2019RevenueCost of salesGross profitDistribution costsAdministrative expensesFinance costShare of profit of associateProfit on disposal of associateProfit before taxIncome taxProfit for the periodAttributable toEquity holders of the parentNCIASSETSNon-current assetsProperty, plant and equipmentGoodwillIntangible assetsInvestment in associateCurrent assetsInventoriesTrade receivablesCashEQUITY AND LIABILITIESEquityALBA Group: Balance sheet at 30 April 2019$ millionShare capitalRetained earningsNCINon-current liabilitiesLong-term borrowings$ million30,750-0Current liabilitiesTrade payablesShort-term borrowingsIncome tax(26,447-5)4,302-5(523.0)(669.4)(510.9)1-63-42,604-2(723-9)1,880-31,652-3228-01,880-322,225-11,662-7306-55,217-04,633-662.54,300-014,643-75,579.3662-4777-62019$ million24,194.39.913-134.107-418,943-72,010-56,133-97,019-334.107.4$ million19,332-81,865-3372-413-84,881-04,670-088-320183,600.012,991-45,356-3507-7884-7$ million21,584-39.639-331,223-616,591-41,870-56,013-06.748-731,223-6 Notes1.2.3.4.5.6.7.Depreciation of $2,024-7 million was charged in respect of property, plant andequipmentin the year ended 30 April 2019.On 1 January 2019 ALBA disposed of the investment in associate for $18million. The stæof profit in the income statement relates to the period from 1May 2018 to31 December 2018. A dividend was received from the associate on 1 June 2018.There were no other disposals, and no acquisitions, of investments in theaccounting period.Goodwill in one of the group's subsidiaries suffered an impairment during theyear. The amount of the impairment was included in cost of sales.The total interest paid for the fiscal year ending 30 April 2019 was $390.Amortization of 25% of the opening balance of intangibles was charged to costof sales.A manufacturing patent was acquired for a cash payment on 30 April2019.An issue of share capital at par was made for cash during the year.Dividends were paid to noncontrolling interest during the year, but no dividendwas paid to theequity holders of the parent entity.Required:Prepare the consolidated cash flow statement of the ALBA Group for the financial yearended 30 April 2019. The cash flow statement should be presented in accordance withthe requirements of IAS 7 Cash Flow Statements and using the indirect method. Notesto the financial statement are NOT required, but full workings should be shown.

There are a few advantages to preparing a cash flow statement in an indirect manner. One benefit is…

ALBA Group: Consolidated income statement for the year ended 30 April 2019 $ million 30,750-0 (26,447-5) 4,302-5 Revenue Cost of sales Gross profit Distribution costs Administrative expenses Finance cost Share of profit of associate Profit on disposal of associate Profit before tax Income tax Profit for the period (523-0) (669-4) (510-9) 1-6 3-4 2,604-2 (723-9) 1,880-3

ALBA Group: Consolidated income statement for the year ended 30 April 2019 $ million 30,750-0 (26,447-5) 4,302-5 Revenue Cost of sales Gross profit Distribution costs Administrative expenses Finance cost Share of profit of associate Profit on disposal of associate Profit before tax Income tax Profit for the period (523-0) (669-4) (510-9) 1-6 3-4 2,604-2 (723-9) 1,880-3

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...

See similar textbooks

Similar questions

The trial balance of Kroeger Incorporated included the following accounts as of December 31, 2024: Sales revenue Interest revenue Gain on sale of investments Gain on debt securities Loss on projected benefit obligation Cost of goods sold Selling expense Goodwill impairment loss Interest expense General and administrative expense Debits $ 160,000 6,100,000 600,000 500,000 30,000 500,000 Credits $ 8,200,000 60,000 120,000 140,000 The gain on debt securities represents the increase in the fair value of debt securities and is classified a component of other comprehensive income. Kroeger had 300,000 shares of stock outstanding throughout the year. Income tax expense has not yet been recorded. The effective tax rate is 25%. Required: Prepare a 2024 single, continuous statement of comprehensive income for Kroeger Incorporated. Use a multiple-step income statement format. Note: Round earnings per share answer to 3 decimal places.
The income statement, statement of retained earnings, and balance sheet for Santiago Systems are as follows: Includes both state and federal taxes. Refer to the information for Santiago Systems above. Required: Compute the price-earnings ratio. (Note: Round the answer to two decimal places.)
The following financial statements relate to Inna Projects Limited:Statement of Comprehensive Income for the year ended 30 June 2018R’000Sales (Credit)8 000Cost of sales2 000Gross profit6 000Operating expenses2 800Operating profit3 200Interest expense220Profit before tax2 980Tax (25%)745Profit after tax2 235Statement of Financial Position as at 30 June 2018ASSETSR’000R’000Non-current assets45 320Current assets13 980Inventory5 080Debtors7 600Bank1 30059 300EQUITY AND LIABILITIESOwners’ equity54 040Capital39 000Retained income15 040Non-current assets3 000Current liabilities2 260Creditors2 26059 300Note: Inventory on 1 July 2017 amounted R3 000 000.Required:Calculate the following ratios and where applicable round off answers correctly to two decimal places:2.1 Gross margin (5)2.2 Inventory turnover (5)2.3 Debtors collection period (5)2.4 Return on own capital (5)2.5 Acid test ratio (5
The Kelly Services, Inc., and subsidiaries partial statement s of earnings from its annual report are presented below. 2020 2019 Revenues from services 4314.8 5517.3 Cost of services 3613.1 4539.7 Gross Profit 701.7 977.6 Selling and administrative expense 794.7 967.4 Asset impairments 53.1 80.5 Net earnings (loss) (164.1) (70.3) Prepare a horizontal common size analysis, and comment on the trend.
You have been provided with Leonard Corporation's partial Statement of Financial Position and the Statement of Comprehensive Income for the year ended December 31, 2021. Leonard Corporation Partial Statement of Financial Position For the Year Ended December 31, 2021 Accounts receivable -net Prepaid expenses Inventory Property, Plant & Equipment Accumulated Depreciation Accounts payable Income taxes payable Deferred revenue 2021 Sales....... Cost of goods sold.. Gross Margin. Selling, general and admin Depreciation expense $440,000 482,000 45,000 31,000 825,000 810,000 2,475,000 2,105,000 2020 (866,000) (823,000) 184,000 197,000 38,000 35,000 47,000 42,000 Leonard Corporation Statement of Comprehensive Income For the Year Ended December 31, 2021 Interest expense..... Gain on sale of PPE Net income before taxes Income Tax Expense Net income and comprehensive income... $3,560,000 1,950,000 1,610,000 (595,000) (320,000) (115,300) 55,400 635,100 95,300 .$539,800 Additional information:…
Which item of the income statement represents the taxable income of the firm? EBIT Operating Income EBT CGS EAT
Cheetahs Limited's Statement of Comprehensive Income for the year ended 31 December 2021 and the Statement of Financial Position as at 31 December 2021 and 2020 are as follows: Statement of Comprehenslve Income R milon (m) Revenue 723 Less Cost of sales (453) Gross proft 270 Less Distribution costs 71 Administrative expenses 30 (101) 169 Rental Income 27 Operating proft Less Interest payable 196 (26) Profit on ordinary activitles before taxation 170 Less Tax on profit on ordinary activitles (36) Profit on ordinary activitles after taxation 134 Retained profit brought forward trom last year 123 257 Less Dividend pald on ordinary shares (60) Retained profit carried forward 197
The following information appeared in the annual financial statements of Hitashi Projects Limited:Statement of Comprehensive Income for the year ended 31 December 2019 R Revenue 1 250 000Direct costs (786 000) Gross profit 464 000 Operating expenses (124 000) Operating profit 340 000 Interest expense (15 000) Profit before tax 325 000 Income tax (97 500) Profit after tax 227 500 Statement of Financial Position as at 31 December 2019Assets R Non-current assets 314 000 Current assets 386 000 Total assets 700 000 Equity and liabilities Shareholders’ equity 350 000 Non-current liabilities 205 000 Current liabilities 145 000 Total equity and liabilities 700 000 Note • Current assets (R386 000) include accounts receivable of R160 000, inventories of R80 000 and cash of R146 000. • Inventories as at 31 December 2018 amounted to R130 000. • Current liabilities comprise accounts payable only. • All direct costs and revenues are on credit.Required: Calculate the following ratios using the…
The following information appeared in the annual financial statements of Hitashi Projects Limited: Statement of Comprehensive Income for the year ended 31 December 2019 R Revenue 1 250 000 Direct costs (786 000) Gross profit 464 000 Operating expenses (124 000) Operating profit 340 000 Interest expense (15 000) Profit before tax 325 000 Income tax (97 500) Profit after tax 227 500 Statement of Financial Position as at 31 December 2019 Assets R Non-current assets 314 000 Current assets 386 000 Total assets 700 000 Equity and liabilities Shareholders’ equity 350 000 Non-current liabilities 205 000 Current liabilities 145 000 Total equity and liabilities 700 000 Note Current assets (R386 000) include accounts receivable of R160 000, inventories of R80 000 and cash of R146 Inventories as at 31 December 2018 amounted to R130 Current liabilities…
Below is Rodrigues Ltd's income statement and two balance sheets: Rodrigues Ltd Income Statement for year ending 30th June 2021 Sales COGS Operating expense Depreciation Interest expense Income before tax Tax at 30% Net income $m 600 240 100 40 10 210 63 147 Assets Current assets PPE Cost Accumul. depr. Carrying amount Total assets Rodrigues Ltd Balance Sheet as at 30th June Liabilities Current liabilities Non-current liabilities Owners' equity Retained earnings Contributed equity Total L and OE 2021 $m 98 800 140 660 758 60 130 80 488 758 2020 $m 73 920 100 820 893 50 120 100 623 893 Which of the following statements about the financial year from 30 June 2020 to 30 June 2021 is NOT correct? O a. The increase in net working capital (ANWC) was $15m. O b. Net capital expenditure was negative because in net terms, more property, plant and equipment (PPE) was bought rather than sold. O c. The increase in net working capital was positive largely because in net terms, more inventory was…
Can you do 2022 income statement of this table? Statement of Profit or Loss and Other Comprehensive Income Presentation Currency Nature of Financial Statements Revenue Revenue from Finance Sector Operations Total Revenue Cost of Sales Cost of Finance Sector Operations Total Costs Gross Profit (Loss) from Commercial Operations Gross Profit (Loss) from Finance Sector Operations Gross Profit (Loss) Profit (Loss) From Operating Activities Profit (Loss) Before Financing Income (Expense) Profit (Loss) from Continuing Operations, Before Tax Profit (Loss) from Continuing Operations Profit (Loss) from Discontinued Operations Net Profit (Loss) Profit (Loss) Attributable To, Non- controlling Interests Profit (Loss) Attributable To, Owners of Parent Other Comprehensive Income (Loss) Total Comprehensive Income (Loss) Total Comprehensive Income Attributable To, Non-controlling Interests Total Comprehensive Income Attributable To, Owners of Parent 2020/12 1000TL Consolidated 21.529.210 37.824.578…
Kamulinda Company Limited (KCL) has provided the following financial information that relates to the year ended 31 December 2020: Statement of profit or loss Sales revenue Cost of sales Gross profit Administrative costs Distribution costs Operating profit Interest received Interest paid Profit before tax Taxation Profit after tax Shs '000' Assets: Non-current assets Accumulated depreciation Netbook value Investments Current assets: Inventory 250,400 (87,900) 162,500 (35,000) (50,000) 77,500 45,000 Shs '000' (25,000) 97,500 (20,000) 77,500 Statement of position as at 31 December: 2020 2019 Shs '000' Shs '000' 459,000 246,000 (125,000) (89,000) 334,000 157,000 76,000 156,000 100,000 Find current assets continued- Accounts receivable Cash at hand Cash at bank Total assets Equity and liabilities: Share capital Share premium Retained earnings Revaluation Non-current liabilities: Long term loan Current liabilities: Accounts payable Interest payable Tax Bank overdraft 24,450 65,000 655,450…