torrent plc s income statement for the year ended 31 december 2010 and the statement 535122
Torrent plc”s income statement for the year ended 31 December 2010 and the statements of financial position as at 31 December 2009 and 2010 are as follows:
|
Income statement for the year ended 31 December 2010 Don't use plagiarized sources. Get Your Custom Essay on
torrent plc s income statement for the year ended 31 december 2010 and the statement 535122
For $10/Page 0nly
|
|
|
£m |
|
|
Revenue |
623 |
|
Cost of sales |
(353) |
|
Gross profit |
270 |
|
Distribution expenses |
(71) |
|
Administrative expenses |
(30) |
|
Rental income |
27 |
|
Operating profit |
196 |
|
Interest payable |
(26) |
|
Profit before taxation |
170 |
|
Taxation |
(36) |
|
Profit for the year |
134 |
Statements of financial position as at 31 December 2009 and 2010
|
2009 |
2010 |
|
|
£m |
£m |
|
|
ASSETS |
||
|
Non-current assets |
||
|
Property, plant and equipment |
||
|
Land and buildings |
310 |
310 |
|
Plant and machinery |
325 |
314 |
|
635 |
624 |
|
Current assets |
||
|
Inventories |
41 |
35 |
|
Trade receivables |
139 |
145 |
|
180 |
180 |
|
|
Total assets |
815 |
804 |
|
EQUITY AND LIABILITIES |
||
|
Equity |
||
|
Called-up ordinary share capital |
200 |
300 |
|
Share premium account |
40 |
– |
|
Revaluation reserve |
69 |
9 |
|
Retained earnings |
123 |
197 |
|
432 |
506 |
|
Non-current liabilities |
||
|
Borrowings – loan notes |
||
|
Current liabilities |
||
|
Borrowings (all bank overdraft) |
56 |
89 |
|
Trade payables |
54 |
41 |
|
Taxation |
23 |
18 |
|
133 |
148 |
|
|
Total equity and liabilities |
815 |
804 |
During 2010, the business spent £67 million on additional plant and machinery. There were no other non-current asset acquisitions or disposals.
There was no share issue for cash during the year. The interest payable expense was equal in amount to the cash outflow. A dividend of £60 million was paid.
Required :
Prepare the statement of cash flows for Torrent plc for the year ended 31 December 2010.
Calculator
Our features
We've got everything to become your favourite writing service
Money back guarantee
Your money is safe. Even if we fail to satisfy your expectations, you can always request a refund and get your money back.
Confidentiality
We don’t share your private information with anyone. What happens on our website stays on our website.
Our service is legit
We provide you with a sample paper on the topic you need, and this kind of academic assistance is perfectly legitimate.
Get a plagiarism-free paper
We check every paper with our plagiarism-detection software, so you get a unique paper written for your particular purposes.
We can help with urgent tasks
Need a paper tomorrow? We can write it even while you’re sleeping. Place an order now and get your paper in 8 hours.
Pay a fair price
Our prices depend on urgency. If you want a cheap essay, place your order in advance. Our prices start from $11 per page.