Company were presented for you to prepare a single statement of comprehensive income for the year ended December 31, 2018. Provide also a brief description on the importance of providing this information to users of financial statements.
The following account balances which appear in the adjusted
Company were presented for you to prepare a single statement of comprehensive income for the year ended December 31, 2018. Provide also a brief description on the importance of providing this information to users of financial statements.
Gain on sale of equipment 150,000
Translation loss on foreign operation 300,000
Cost of goods sold 9,000,000
Distribution cost 750,000
Sales 14,250,000
Income tax expense 1,425,000
Interest Revenue 375,000
Administrative expenses 450,000
Revaluation surplus during the year 1,800,000
Finance cost 225,000
Share of profit of associate 525,000
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