A company's income statement for the year to 31 December 2020 is as follows: Compute the company's
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A company's income statement for the year to 31 December 2020 is as follows:
Compute the company's trading income (before deduction of capital allowances) for the year to 31 December 2020.
Transcribed Image Text:
Turnover Cost of sales Gross profit Other income Less: Distribution costs Administrative expenses Profit for the year (before tax) Notes: 1. The other income of 24,000 consists of rents receivable. 2. Distribution costs are as follows: Depreciation of distribution vans Loss on disposal of distribution van General distribution costs (all allowable) 187,770 341,920 1,640,430 827,390 813,040 24,000 837,040 529,690 307,350 18,530 990 168,250 187,770
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