In 2018, Pear LTD, a company producing smart phones, generated 1,000,000 in revenues. At the beginning...

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In 2018, Pear LTD, a company producing smart phones, generated £1,000,000 in revenues. At the beginning of 2018 the company had £100,000 worth of electronic components in stock. Subsequently, in the same year, the company spent a further £200,000 on electronic components. At the end of year 2018, £50,000 worth of electronic components remained in stock. Salary costs were £300,000 and an additional £60,000 was spent on marketing. £20,000 was paid as bank interest on loans and taxes were paid at a rate of 10%. Based on this information, produce an Income Statement. In 2018, Pear LTD, a company producing smart phones, generated £1,000,000 in revenues. At the beginning of 2018 the company had £100,000 worth of electronic components in stock. Subsequently, in the same year, the company spent a further £200,000 on electronic components. At the end of year 2018, £50,000 worth of electronic components remained in stock. Salary costs were £300,000 and an additional £60,000 was spent on marketing. £20,000 was paid as bank interest on loans and taxes were paid at a rate of 10%. Based on this information, produce an Income Statement.

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Pear Ltd Income Statement For the Year Ending 31st De... View the full answer