Solution-Below are the income statements for the spanish

Below are the income statements for the Spanish Hoyos Group. The company asks you to analyse these statements and answer the following questions:

(a) What is your opinion of the company?

(b) Is the company moving closer towards or further away from breakeven point?

(d) What choices are made with regard to cost control?

(e) Explain the rise in financial expense.

Grupo Hoyos	1	2	3
Sales	82,000	92,000	97,000
Change in finished goods and in-progress inventory	500	1,400	2,800
Operating revenues	82,500	93,400	99,800
Purchases of raw materials and goods for resale	24,800	27,400	29,900
Change in inventories	-1,700	-500	-1,600
Other external charges	20,200	23,000	23,500
Taxes	1,200	1,400	1,500
Personnel cost	29,000	33,000	37,000
Depreciation and amortisation	5,200	4,900	4,800
Provisions	100	200	-
Operating charges	78,800	89,400	95,100
Operating income	3,700	4,000	4,700
Interest, dividends and other financial income	300	400	300
Interest and other finance charges	2,300	2,900	3,900
Financial income	-2,000	-2,500	-3,600
Nonrecurring income	-100	-100	+100
Tax	800	700	600
Net income	800	700	600

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