Hobart Ltd commenced its operation on 1 January 2020 and the financial statements are as follows:...

  
 

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Hobart Ltd commenced its operation on 1 January 2020 and the financial statements are as follows: Hobart Ltd Balance Sheet (31 December 2020) Current Assets Cash Accounts Receivable Inventory Non-current Assets Plant and Equipment Accumulated Depreciation Land Total Assets Current Liabilities Bank Overdraft Accounts Payable Tax Payable Dividends Payable Non-current Liabilities Bank Loan Total Liabilities Net Assets Represented by: Shareholders' funds Paid-up Capital Retained Earnings 110 25 35 90 9 75 326 10 50 50 15 10 135 191 180 11 ● ● ● Hobart Ltd Income Statement (31 December 2020) Sales Revenue COGS Gross Profit Other Expenses Administrative Expenses Interest Expenses Depreciation Profit Before Tax Tax Profit after Tax 195 100 95 9 9 76 50 26 Additional Information is presented below: The replacement cost of the Inventory sold during the year end equals to 110. The replacement cost of the Inventory at year end equals to 38. The replacement cost of the Plant and Equipment at year end equals to 95. The replacement cost of the Land at year end equals to 77. The expected life of the Plant and Equipment is ten years with no residual value. calculate- current cost operating profit, realized davings, unrealized savings Hobart Ltd commenced its operation on 1 January 2020 and the financial statements are as follows: Hobart Ltd Balance Sheet (31 December 2020) Current Assets Cash Accounts Receivable Inventory Non-current Assets Plant and Equipment Accumulated Depreciation Land Total Assets Current Liabilities Bank Overdraft Accounts Payable Tax Payable Dividends Payable Non-current Liabilities Bank Loan Total Liabilities Net Assets Represented by: Shareholders' funds Paid-up Capital Retained Earnings 110 25 35 90 9 75 326 10 50 50 15 10 135 191 180 11 ● ● ● Hobart Ltd Income Statement (31 December 2020) Sales Revenue COGS Gross Profit Other Expenses Administrative Expenses Interest Expenses Depreciation Profit Before Tax Tax Profit after Tax 195 100 95 9 9 76 50 26 Additional Information is presented below: The replacement cost of the Inventory sold during the year end equals to 110. The replacement cost of the Inventory at year end equals to 38. The replacement cost of the Plant and Equipment at year end equals to 95. The replacement cost of the Land at year end equals to 77. The expected life of the Plant and Equipment is ten years with no residual value. calculate- current cost operating profit, realized davings, unrealized savings

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