please help me to solve this problem Exercise 3Set out below are the financial statements of Emma, a limited liability company.STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DECEMBER 20X2Sales revenueCost of salesGross profitDistribution costsAdministrative expensesFinance costsProfit before taxIncome tax expenseProfit for the yearSTATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBERNon-current assetsTangible assetsIntangible assetsInvestmentsCurrent assetsInventoriesReceivablesCash in handEquity and liabilitiesShare capital ($1 ordinary shares)Share premium accountRevaluation surplusRetained earningsNon-current liabilitiesLong-term loanCurrent liabilitiesTrade payablesBank overdraftTaxation(3)20X2$'000Cost/valuationAccumulated depreciationCarrying amount380250630150390525921,222200160100160620100127852905021,222Additional information.(1) The proceeds of the sale of non-current asset investments amounted to $30,000.(2)Fixtures and fittings, with an original cost of $85,000 and a carrying amount of $45,000, were sold for$32,000 during the year.The following information relates to property, plant and equipment.********** *888*8 02-88| 88586| ' 98393|31.12.20X2 31.12.20X1$'000$'000720595340290380305Some items of PPE were revalued during the year.(4) 50,000 $1 ordinary shares were issued during the year at a premium of 20c per share.Complete the following sections of the statement of cash flows for the year ended 31 December 20X2 for Emma

Cash Flow Statement : It is the statement of three cash generated activities, Operating , Investing…

tout below are the financial statements of Emma, a limited liability company. ATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DECEMBER 20X2 les revenue st of sales oss profit stribution costs ministrative expenses nance costs fit before tax

tout below are the financial statements of Emma, a limited liability company. ATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DECEMBER 20X2 les revenue st of sales oss profit stribution costs ministrative expenses nance costs fit before tax

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 24E

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