Hi view ltd statement of comprehensive income for the year

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Reference no: EM13382445

Hi View Ltd. Statement of Comprehensive Income for the year ended 31^st December 2011 and 2012 and the statement of financial position as at 31^st December 2011 and 2012 are as follows:

Statement of comprehensive income for years ended 2011 and 2012

	2011 ($m)	2012 ($m)
Sales	207	153
Cost of sales	(101)	(76)
Gross profit	106	77
Other expenses	(48)	(48)
Other operating income	4
Total	62	29
Interest revenue and similar income	2
Total	64	29
Interest expense and similar charges	(4)	(4)
Total	60	25
Tax on profit or loss on ordinary activities	(16)	(6)
Profit on ordinary activities after taxation	44	19
Retained profit brought forward from last year	30	56
Total	74	75
Proposed dividend on ordinary shares	(18)	(18)
Retained profit carried forward	56	57

Statements of financial position as at 31^st December 2011 and 2012

	2011 ($m)	2012 ($m)
Current assets
Inventory	24	25
Accounts receivable	26	25
Cash at bank and in hand	27	1
Non-current assets
Land and buildings	110	130
Plant and Machinery	62	56
Total assets	249	237
Current liabilities
Accounts payable	23	20
Income tax payable	16	6
Dividend payable	14	14
Non-current liabilities
Debentures loans (10%)	40	40
Total liabilities	93	80
Net assets	156	157
Equity
Shareholders' equity
Paid up share capital	100	100
Retained profits	56	57
Total equity	156	157

In other expenses depreciation was included as follows:

2011 2012

Land and buildings $6 $10

Plant and machinery $10 $12

There were no non-current asset disposals in either year. In both years an interim dividend was paid within the financial year and a final dividend was paid just after the end of the year concerned.

Prepare a statement of cash flows for the company for 2012 together with a reconciliation of operating profit and cash from operations.

Reference no: EM13382445

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