You are asked to create the grouped income statement from the below data (its possible that you won't need all the data)

production cost	70000
opening inventory of goods	400000
staff wages	50000
third party services	20000
sales	500000
rent income	70000
purchases of inventory	100000
taxes to be paid	16000
ending inventory of goods	200000
income from participation in other companies	200000
damage to the building from fire	40000

Answer rating: 100% (QA)

Grouped Income Statement Revenue Sales 500000 Rent Income 70000 Income from participation in ... View the full answer