ABCDEF
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2
COMPREHENSIVE INCOME STATEMENT
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20142013
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Note$
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Revenue12,104,400
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Profit before interest and tax2180,000
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Less interest expense38,600
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Profit before tax141,400
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Less Taxation expense 33,192
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Net profit after tax138,208
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Gain on property revaluation100,000
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Comprehensive income after tax238,208
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Statement of Changes in Equity for the year ended 31 March 2014
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Issued CapitalAsset Revaluation ReserveRetained EarningsTotal
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Balance at 1.4.2013340,000100,000185,000625,000
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Comprehensive income after tax100,000138,208238,208
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0
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issued capital160,000160,000
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Dividends paid (Note 4)-60,000-60,000
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Balance at end 31.3.2014500,000200,000263,208963,208
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Notes to the Financial Statements
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Note 1: Revenue $
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Sales1,899,400
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rent received75,000
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Gain on investment propty revaluation130,000
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2,104,400
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Note 2: Expense classification
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Cost of Sales835000
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Selling and Administration expense669,400
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Other Expenses420,000
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Expense include :
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Advisory Service - Audit35,000
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audit fee 40,000
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Bad debt10,000
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Director's fees21,000
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Lease of Premises70,000
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Staff Wages350,000
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Other Expenses410,000
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loss on the sale plant15,000
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Depreciation138,400
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financial costs
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20,400
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11,000
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7,200
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38,600
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Note 3: Taxation
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Operating profit11,400
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0.28
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Tax expense 3,192
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Taxation as above
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Less: Provisional tax paid60,000
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Tax paid in advance-56,808
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Note 4: Dividends
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An interim dividend of $60,000 was paid during the year. The directors has recommended final cash dividend of $50,000 (20 cents per share).
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