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Sunrise Company Limited Statement of Profit and Loss For the year ended March 31 2019 (Rs) 2018 (Rs) Net Sales 1,500,000 Cost of goods sold Gross Profit Selling and administrative expenses 1,275,000 1,025,000 250,000 175,000 1,050,000 450,000 195,000 Profit before interest and tax 255,000 45,000 75,000 Interest expense 22,500 Profit before tax 210,000 52,500 22,500 30,000 Income tax 100,000 110,000 Profit after tax

Sunrise Company Limited Statement of Profit and Loss For the year ended March 31 2019 (Rs) 2018 (Rs) Net Sales 1,500,000 Cost of goods sold Gross Profit Selling and administrative expenses 1,275,000 1,025,000 250,000 175,000 1,050,000 450,000 195,000 Profit before interest and tax 255,000 45,000 75,000 Interest expense 22,500 Profit before tax 210,000 52,500 22,500 30,000 Income tax 100,000 110,000 Profit after tax

Intermediate Accounting: Reporting And Analysis
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
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 12P
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Prepare a horizontal analysis of the statement of profit and loss and balance sheet showing amount and percentage changes from 2018 to 2019

Sunrise Company Limited Statement of Profit and LOS For the year ended March 31 2018 (Rs) 2019 (Rs) 1,500,000 1,050,000 Net Sales 1,275,000 1,025,000 Cost of goods sold Gross Profit 450,000 195,000 255,000 45,000 250,000 175,000 Selling and administrative expenses Profit before interest and tax 75,000 Interest expense Profit before tax 22,500 52,500 210,000 100,000 110,000 22,500 30,000 Income tax Profit after tax Additional Information: 2019 (Rs) 2018 (Rs) Market price per share Dividend per share Earnings per share 2,200.00 25.00 300.00 12.50 55.00 15.00 On March 31, 2017 the company had inventories of Rs 32,500, receivables of Rs 50,000, total assets of Rs 675,000 and equity of Rs 622,500.
Transcribed Image Text:Sunrise Company Limited Statement of Profit and LOS For the year ended March 31 2018 (Rs) 2019 (Rs) 1,500,000 1,050,000 Net Sales 1,275,000 1,025,000 Cost of goods sold Gross Profit 450,000 195,000 255,000 45,000 250,000 175,000 Selling and administrative expenses Profit before interest and tax 75,000 Interest expense Profit before tax 22,500 52,500 210,000 100,000 110,000 22,500 30,000 Income tax Profit after tax Additional Information: 2019 (Rs) 2018 (Rs) Market price per share Dividend per share Earnings per share 2,200.00 25.00 300.00 12.50 55.00 15.00 On March 31, 2017 the company had inventories of Rs 32,500, receivables of Rs 50,000, total assets of Rs 675,000 and equity of Rs 622,500.
Sunrise Company's balance sheet on March 31, 2019 and 2018 and statement of profit and loss for the year ended March 31, 2019 and 2018 are as follows: Sunrise Company Limited Balance Sheet, March 31 Description 2019 (Rs) 2018 (Rs) Assets Non-current assets Property, plant and equipment 675,000 650,000 25,000 Non-current investments 25,000 Current assets Inventories Trade receivables Cash and cash equivalents 500 75,000 67,500 50,000 62,500 Other current assets Total assets Equity and Liabilities Equity Equity share capital Reserves and Surplus Non-current liabilities Long Term Borrowings Current liabilities Trade payables Total equity and liabilities 37,500 917,500 7,500 835,000 500,000 500,000 187,500 127,500 142,500 125,000 87,500 82,500 835,000 917,500
Transcribed Image Text:Sunrise Company's balance sheet on March 31, 2019 and 2018 and statement of profit and loss for the year ended March 31, 2019 and 2018 are as follows: Sunrise Company Limited Balance Sheet, March 31 Description 2019 (Rs) 2018 (Rs) Assets Non-current assets Property, plant and equipment 675,000 650,000 25,000 Non-current investments 25,000 Current assets Inventories Trade receivables Cash and cash equivalents 500 75,000 67,500 50,000 62,500 Other current assets Total assets Equity and Liabilities Equity Equity share capital Reserves and Surplus Non-current liabilities Long Term Borrowings Current liabilities Trade payables Total equity and liabilities 37,500 917,500 7,500 835,000 500,000 500,000 187,500 127,500 142,500 125,000 87,500 82,500 835,000 917,500
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