Reference no: EM132522722
The following data has been extracted from the records of PURPLE plc at 31 March 2001;
Turnover 18,108,488
Cost of sales 16,471,616
Distribution costs 864,531
Administration expenses 1,494,228
Surplus on sale of fixed assets 11,054
Interest receivable 21,721
Losses due to seizure of imported sugar 351,890
Overdraft interest 139,001
Loan interest (Loan repayable 31 March 2009) 162,299
Corporation tax for the year 8,101
Dividends (interim 0.25p per share) 17,292
Transfer from reserves 1,389,105
You are also given the following information:
(a) Number of shares in issue during the year: 7,192,380.
(b) Turnover excludes value added tax.
(c) Distribution costs and administrative expenses given above include the following items:
Depreciation 365,928
Directors' emoluments 105,773
Auditors' remuneration 26,020
Hire of plant and machinery 3,084
Question 1: Show an income statement for publication, together with any notes required. It should comply with the Companies Acts.