EMMA

STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DECEMBER 20X2

$'000
Sales revenue 1,900
Cost of sales -1,761
Gross profit 139
Administrative expenses -339
Depreciation expense -100
Net Profit/Loss -300

EMMA
STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER
20X2
$'000
Non-current assets
Tangible assets 380
Intangible assets 280

Current assets
Inventories 170
Receivables 390
Cash in hand 87

Total Assets 1,307

Equity and liabilities

Share capital ($1 ordinary shares) 550
Retained earnings -100

Total Equity 450

Non-current liabilities
Long-term loan 560

Current liabilities
Trade payables 167
Accruals 130

Total Liability 857

Additional Info
1. During the year the company has sold non current asset with book value of $25,000 for $30,000
2. The company has paid dividend during the year of $2,000
3. All interest income has been received
4. All interest expense has been paid
5. $180,000 Tangible assets were purchased during the year
 Operating activity
Net profit -300
Depreciation expense 100
Gain on disposal -5
Increase in receivables -75
Decrease in inventory 12
Increase in payables 98
Decrease in accruals -20

Net cash flow from oper act -190

Investing activity
Purchase of tanguble assets -180
Purchase of intangible assets -80
Sale of tangible assets 30 (Refer to Note 1)

20X1 Cash from investing activity -230

$'000
Financing activity
325 180 Issue of new capital 50
200 80 Dividend paid -2
New loan obtained 360

182 -12 Cash from financing activity 408

315 75
99 Cash at beginning 99
Net increase in cash -12
1,121 Cash at end 87 0

500 50
202

702

200 360

69 98
150 -20

419