Question: REQUIRED Use the information provided below to prepare the Pro-forma Statement of Comprehensive Income for the year ended 31 December 2023. (Note: The statement must
REQUIRED Use the information provided below to prepare the Pro-forma Statement of Comprehensive Income for the year ended 31 December 2023. (Note: The statement must reflect the gross profit, operating profit, profit before tax and profit after tax.) (10 marks) INFORMATION The following figures have been extracted from the Statement of Comprehensive Income of Riptide Limited for the year ended 31 December 2022: R Sales 2 000 000 Cost of sales 1 200 000 Operating expenses 500 000 Interest expense 40 000 Company tax 78 000 Profit after tax 182 000 Additional information 1. The sales forecast for the year ended 31 December 2023 is R2 400 000. 2. The gross margin ratio for 2023 is expected to increase to
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