MUSCAT CITY DESALINATION COMPANY SAOG Statement of profit or loss and other comprehensive income for year ended 31 December 2019 Notes 2019 2018 RO'000s RO'000s Operating revenue Operating costs 16,071 (9,776) 17 16,810 (10,654) 18 Gross profit 6,156 6,295 Other income 28 (867) (3,143) Administrative and general expenses 19 (885) Finance costs (net) 20 (3,357) Profit for the year before tax 2,174 (690) 2,053 Income tax 21 (904) Profit for the year 1,484 1,149 Other comprehensive (loss) / income for the year - Items that may be reclassified subsequently to profit or lass Changes in fair values of derivative financial instruments Deferred tax on changes in fair values of derivative financial instruments (3,057) 1,311 458 (197) Other comprehensive (loss) / income for the year net of income tax (2,599) 1,114 Total comprehensive (loss) / income for the year (1,115) 2,263 0.010 0.007 Earnings per share - basic and diluted (RO) 22 11cTY DESALINATION COMPANY SAOG 6. Statement of financial position as at 31 December 2019 Notes 2019 RO'000s 2018 RO'000s ASSETS Non-current assets Property, plant and equipment Lease asset (right of use assets) Deferred tax 89,168 91,545 185 716 21 162 Total non-current assets 90,069 91,707 Current assets Trade and other receivables Cash and cash equivalents 1,482 1,973 3,455 1,385 1,820 3,205 Total current assets Total assets 93,524 94,912 EQUITY AND LIABILITIES Equity Share capital Legal reserve Retained earnings Cumulative changes in fair values of derivative financial instruments 15,555 1,777 15,555 1,628 254 336 10 (3,223) (624) Total equity 14,445 16,813 Non-current linbilities Non-curent portion of term loans Non-curent portion of fair value of derivative financial instruments Provision for decommissioning obligation Deferred tax Lease liability - non-current partion Sharcholders' bridge loms Sharehokders" stand-by equity loans End-of-service benefles 56,450 59,562 657 349 10 3,592 366 3,785 21 3,001 24 13 183 8,854 3,854 14 754 26 15 Total non-current liabilities 74,010 72,438 Curreat liabilities Current portion of term loans Current portion of fair value of derivative financial instruments Lease liability - current portion Shareholders' stand-by equity loans Trade and other payables 3,188 3,106 10 200 77 24 14 754 15 1,674 1,724 Total current liabilities 5,069 5,661 Total liabilities 79,079 78,099 Total equity and liabilities 93,524 94,912 Net nssets per share (RO) 23 0.093 0.108 Chairman Chief Expeutive Officer The accompanying notes form an integral part of these financial statements.

MUSCAT CITY DESALINATION COMPANY SAOG Statement of profit or loss and other comprehensive income for year ended 31 December 2019 Notes 2019 2018 RO'000s RO'000s Operating revenue Operating costs 16,071 (9,776) 17 16,810 (10,654) 18 Gross profit 6,156 6,295 Other income 28 (867) (3,143) Administrative and general expenses 19 (885) Finance costs (net) 20 (3,357) Profit for the year before tax 2,174 (690) 2,053 Income tax 21 (904) Profit for the year 1,484 1,149 Other comprehensive (loss) / income for the year - Items that may be reclassified subsequently to profit or lass Changes in fair values of derivative financial instruments Deferred tax on changes in fair values of derivative financial instruments (3,057) 1,311 458 (197) Other comprehensive (loss) / income for the year net of income tax (2,599) 1,114 Total comprehensive (loss) / income for the year (1,115) 2,263 0.010 0.007 Earnings per share - basic and diluted (RO) 22 11cTY DESALINATION COMPANY SAOG 6. Statement of financial position as at 31 December 2019 Notes 2019 RO'000s 2018 RO'000s ASSETS Non-current assets Property, plant and equipment Lease asset (right of use assets) Deferred tax 89,168 91,545 185 716 21 162 Total non-current assets 90,069 91,707 Current assets Trade and other receivables Cash and cash equivalents 1,482 1,973 3,455 1,385 1,820 3,205 Total current assets Total assets 93,524 94,912 EQUITY AND LIABILITIES Equity Share capital Legal reserve Retained earnings Cumulative changes in fair values of derivative financial instruments 15,555 1,777 15,555 1,628 254 336 10 (3,223) (624) Total equity 14,445 16,813 Non-current linbilities Non-curent portion of term loans Non-curent portion of fair value of derivative financial instruments Provision for decommissioning obligation Deferred tax Lease liability - non-current partion Sharcholders' bridge loms Sharehokders" stand-by equity loans End-of-service benefles 56,450 59,562 657 349 10 3,592 366 3,785 21 3,001 24 13 183 8,854 3,854 14 754 26 15 Total non-current liabilities 74,010 72,438 Curreat liabilities Current portion of term loans Current portion of fair value of derivative financial instruments Lease liability - current portion Shareholders' stand-by equity loans Trade and other payables 3,188 3,106 10 200 77 24 14 754 15 1,674 1,724 Total current liabilities 5,069 5,661 Total liabilities 79,079 78,099 Total equity and liabilities 93,524 94,912 Net nssets per share (RO) 23 0.093 0.108 Chairman Chief Expeutive Officer The accompanying notes form an integral part of these financial statements.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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Muscat City Desalination Company financial statements – Income Statement and Statement of Balance sheet attached. Analyze the information contained in the company’s balance sheet and income statements to answer the following questions.

Are the company assets listed in the proper order?
What type of the format used in the income and balance sheet statement?
How are the company assets and liabilities classified?
What are the cash equivalents?
Muscat City Desalination Company statements audited or unaudited? Explain.

Please I want answer for these. Big Thumb

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MUSCAT CITY DESALINATION COMPANY SAOG
Statement of profit or loss and other comprehensive income
for year ended 31 December 2019
Notes
2019
2018
RO'000s
RO'000s
Operating revenue
Operating costs
16,071
(9,776)
17
16,810
(10,654)
18
Gross profit
6,156
6,295
Other income
28
(867)
(3,143)
Administrative and general expenses
19
(885)
Finance costs (net)
20
(3,357)
Profit for the year before tax
2,174
(690)
2,053
Income tax
21
(904)
Profit for the year
1,484
1,149
Other comprehensive (loss) / income for the year -
Items that may be reclassified subsequently to
profit or lass
Changes in fair values of derivative financial instruments
Deferred tax on changes in fair values of derivative
financial instruments
(3,057)
1,311
458
(197)
Other comprehensive (loss) / income for the year
net of income tax
(2,599)
1,114
Total comprehensive (loss) / income for the year
(1,115)
2,263
0.010
0.007
Earnings per share - basic and diluted (RO)
22

11cTY DESALINATION COMPANY SAOG
6.
Statement of financial position
as at 31 December 2019
Notes
2019
RO'000s
2018
RO'000s
ASSETS
Non-current assets
Property, plant and equipment
Lease asset (right of use assets)
Deferred tax
89,168
91,545
185
716
21
162
Total non-current assets
90,069
91,707
Current assets
Trade and other receivables
Cash and cash equivalents
1,482
1,973
3,455
1,385
1,820
3,205
Total current assets
Total assets
93,524
94,912
EQUITY AND LIABILITIES
Equity
Share capital
Legal reserve
Retained earnings
Cumulative changes in fair values of derivative financial instruments
15,555
1,777
15,555
1,628
254
336
10
(3,223)
(624)
Total equity
14,445
16,813
Non-current linbilities
Non-curent portion of term loans
Non-curent portion of fair value of derivative financial instruments
Provision for decommissioning obligation
Deferred tax
Lease liability - non-current partion
Sharcholders' bridge loms
Sharehokders" stand-by equity loans
End-of-service benefles
56,450
59,562
657
349
10
3,592
366
3,785
21
3,001
24
13
183
8,854
3,854
14
754
26
15
Total non-current liabilities
74,010
72,438
Curreat liabilities
Current portion of term loans
Current portion of fair value of derivative financial instruments
Lease liability - current portion
Shareholders' stand-by equity loans
Trade and other payables
3,188
3,106
10
200
77
24
14
754
15
1,674
1,724
Total current liabilities
5,069
5,661
Total liabilities
79,079
78,099
Total equity and liabilities
93,524
94,912
Net nssets per share (RO)
23
0.093
0.108
Chairman
Chief Expeutive Officer
The accompanying notes form an integral part of these financial statements.

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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