Prepare company’s statement of comprehensive income
TThe following information has been extracted from the books of Multimedia limited for the year ended 31st December 2018
1. Ordinary share capital authorised issued and fully paid 100,000 shares of sh 10 each.
2. Sales for the year was sh 2,250,000
3. Cost of sales sh 1,050,000.
4. Administration expenses sh 321,900.
5. Selling and distribution expense sh 445,725.
6. Financial charges sh 48,000.
7. Corporation tax at 20%.
7. Company distributes 70% of its eqrearnings after taxes as dividents.
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