The following is the income statement for Nikov and Co. for the year ended 31 December 2018,
Question:
The following is the income statement for Nikov and Co. for the year ended 31 December 2018, along with information relating to the preceding year.
Required:
Analyse the performance of the business for the year to 31 December 2018 in so far as the information allows.
Transcribed Image Text:
Income statement for the year ended 31 December 2018 £000 420.2 (126.1) 294.1 Sales revenue Cost of sales Gross profit Salaries and wages Selling and distribution costs Rent and rates Bad debts written off Telephone and postage Insurance Motor vehicle expenses Depreciation - delivery van - fixtures and fittings Operating profit Loan interest Profit for the year (92.6) (98.9) (22.0) (19.7) (4.8) (2.9) (10.3) (3.1) (4.3) 35.5 (4.6) 30.9 2017 £000 382.5 (114.8) 267.7 (86.4) (75.4) (22.0) (4.0) (4.4) (2.8) (8.6) (3.3) (4.5) 56.3 (5.4) 50.9
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To analyze the performance of Nikov and Co for the year ending December 31 2018 we can use the information provided in the income statement and compar...View the full answer
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Related Book For
Financial Accounting For Decision Makers
ISBN: 9781292251257
9th Edition
Authors: Peter Atrill, Eddie McLaney
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