Statement of profit or loss as on 30 septemer 2004

Revenue 211900
Cost of sales -144300
Gross profit 67600
Admin exp -18000
Distribution cost -12500
Inv income 400
Fair value loss -1300
Operating Profit 36200
Int paid -1920
Tax expennse -8300
Profit After Tax 25980
Statement of financial position as on 30 sept 2004

Non Current Asset

Plant and Equipment 42500

Eq Inv 15700

Current Asset
Inv 24800
Trade Receivable 28500
Bank 2900

114400

Equity and Liabilities

Equity 60000
Ret Ear 13280

non current liabilities

6% loan note 24420
dr 800
df 1000
current liabilities
ct 7400
tp 6700
dr 800

114400
 Workings

1) Revenue

Sale price 10000

service cost 800

2) loan note 24000 int paid 1500

yr op bal eff int int paid clo bal

1 24000 1920 -1500 24420

3) plant and equipmet

cost 83700
acc dep -33700
c.v as on 1st oct 2002 50000
dep 7500
42500

4) Equity fair value investments

cost 17000
fair value loss 1300
fair value 15700

5) Tax adjustmet

CT 7400 DT 1200
ADD:UP 1100 DFT -200
LESS:DFT -200
CLO BAL 1000
8300