Provide proforma for income statement and balance sheet for year 2020 based on sales growth rate of 26.5%. and tax rate 15%.

INCOME STATEMENT
	2019
Revenue	1,214,944
Cost of goods sold	-1,027,851
Gross profit	187,093
Other income	9,317
Selling and distribution expenses	-23,602
Administrative expenses	-41,119
Other expenses	-8,020
Net gain/(loss) on impairment of financial instrument	-282
Results from operating activities	123,387
Finance income	3,210
Finance costs	-1,884
Operating profit	124,713
Share of profit of equity-accounted associate, net of tax	505
Profit before tax	125,218
Tax expense	-27,206
Profit for the year	98,012
Other comprehensive expense, net of tax
Item that will not be reclassified subsequently to profit or loss
Net change in fair value of equity investments designated at fair value through other comprehensive income
Item that is or may be reclassified subsequently to profit or loss
Foreign currency translation differences for foreign operations	8,052
Total comprehensive income for the year	106,064
Profit attributable to:
Owners of the Company	92,876
Non-controlling interests	5,136
	98,012
Total comprehensive income attributable to:
Owners of the Company	100,928
Non-controlling interests	5,136
	106,064
Basic earnings per ordinary share (sen)	24
Diluted earnings per ordinary share (sen)	24

 

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BALANCE SHEET Assets Property, plant and equipment Investment property Investments in subsidiaries Investment in an associate Deferred tax assets Other investment Trade and other receivables Total non-current assets Inventories Trade and other receivables Current tax assets Cash and cash equivalents Total current assets Total assets Equity Share capital Reserves Total equity attributable to owners of the Company Non-controlling interests Total equity Liabilities Loans and borrowings Lease liabilities Deferred tax liabilities Total non-current liabilities Loans and borrowings Lease liabilities Provision Trade and other payables Contract liabilities Current tax liabilities Total current liabilities Total liabilities Total equity and liabilities 2019 328,620 25,189 2,580 238 797 42,730 400,154 257,529 262,693 4,498 292,884 817,604 ********** 1,217,758 246,454 487,346 733,800 27,802 761,602 65,300 1,379 33,043 99,722 120,961 1,110 229,048 4,242 1,073 356,434 456,156 1,217,758 BALANCE SHEET Assets Property, plant and equipment Investment property Investments in subsidiaries Investment in an associate Deferred tax assets Other investment Trade and other receivables Total non-current assets Inventories Trade and other receivables Current tax assets Cash and cash equivalents Total current assets Total assets Equity Share capital Reserves Total equity attributable to owners of the Company Non-controlling interests Total equity Liabilities Loans and borrowings Lease liabilities Deferred tax liabilities Total non-current liabilities Loans and borrowings Lease liabilities Provision Trade and other payables Contract liabilities Current tax liabilities Total current liabilities Total liabilities Total equity and liabilities 2019 328,620 25,189 2,580 238 797 42,730 400,154 257,529 262,693 4,498 292,884 817,604 ********** 1,217,758 246,454 487,346 733,800 27,802 761,602 65,300 1,379 33,043 99,722 120,961 1,110 229,048 4,242 1,073 356,434 456,156 1,217,758

Answer rating: 100% (QA)

1 Proforma Income Statement for the Year 2020 Proforma Revenue Proforma Revenue 2019 Revenue Growth Rate Proforma Revenue 1214944 1265 Proforma Revenue 1537438 Proforma Cost of Goods Sold COGS Proform... View the full answer