Question for income statement : BAYAN INVESTMENT CO. (K.S.C.P)a. List 2 expense accounts AND their amounts for 2020.b. What was the net profit/(loss) for 2020? What about 2019?c. Compared with 2019, has the net profit/(loss) increased or decreased? BAYAN INVESTMENT COMPANY K.S.C. (PUBLIC) AND SUBSIDIARIESCONSOLIDATED STATEMENT OF PROFIT OR LOSSFOR THE YEAR ENDED DECEMBER 31, 2020(All amounts are in Kuwaiti Dinars)Note20202019Revenues:Net investment incomeManagement and consultancy feesNet sales revenueOther income15161664,00516,002820,22955,277955,513281,41017,014386,63729,846714,907Expenses and other charges:General and administrative expensesFinance charges on bank facilitiesFinance charges on lease liabilitiesProvision for a legal claimForeign exchange loss (gain)801,168241,22714,150780,915(42,303)1,795,157171,006,396156,65411,290417,0748,7771,600,1917(d)7, 21Loss for the year before contribution to National LaborSupport Tax (NLST) and ZakatNLST(644,678) (1,080,250)(12,954)(13,435)Zakat(2,744)(4,176)Loss for the year(960,376)(1,097,861)Attributable to:Shareholders of the Parent CompanyNon-controlling interestsLoss for the year(428,219)(232,157)(660,376)(701,211)(396,650)(1,097,861)FilsFilsBasic and diluted loss per share attributable to shareholdersof the Parent Company18(1.182)(1.935)The accompanying notes from (1) to (27) form an integral part of the consolidated financial statements.

Net profit is gross profit minus operating expenses and other expenses a like interest expenses…

Question for income statement : BAYAN INVESTMENT CO. (K.S.C.P) a. List 2 expense accounts AND their amounts for 2020. b. What was the net profit/(loss) for 2020? What about 2019? c. Compared with 2019, has the net profit/(loss) increased or decreased?

Question for income statement : BAYAN INVESTMENT CO. (K.S.C.P) a. List 2 expense accounts AND their amounts for 2020. b. What was the net profit/(loss) for 2020? What about 2019? c. Compared with 2019, has the net profit/(loss) increased or decreased?

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter2: Asset And Liability Valuation And Income Recognition

Section: Chapter Questions

Problem 1FIC

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