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ALBA Group: Consolidated income statement for the year ended 30 April 2019 $ million 30,750-0 (26,447-5) 4,302-5 Revenue Cost of sales Gross profit Distribution costs Administrative expenses Finance cost Share of profit of associate Profit on disposal of associate Profit before tax Income tax Profit for the period (523-0) (669-4) (510-9) 1-6 3-4 2,604-2 (723-9) 1,880-3

ALBA Group: Consolidated income statement for the year ended 30 April 2019 $ million 30,750-0 (26,447-5) 4,302-5 Revenue Cost of sales Gross profit Distribution costs Administrative expenses Finance cost Share of profit of associate Profit on disposal of associate Profit before tax Income tax Profit for the period (523-0) (669-4) (510-9) 1-6 3-4 2,604-2 (723-9) 1,880-3

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please show each step of calculation. Thanks in advance. 

The summarized consolidated financial statements of the ALBA Group for the year ended 30 April 2019 are as follows: ALBA Group: Consolidated income statement for the year ended 30 April 2019 Revenue Cost of sales Gross profit Distribution costs Administrative expenses Finance cost Share of profit of associate Profit on disposal of associate Profit before tax Income tax Profit for the period Attributable to Equity holders of the parent NCI ASSETS Non-current assets Property, plant and equipment Goodwill Intangible assets Investment in associate Current assets Inventories Trade receivables Cash EQUITY AND LIABILITIES Equity ALBA Group: Balance sheet at 30 April 2019 $ million Share capital Retained earnings NCI Non-current liabilities Long-term borrowings $ million 30,750-0 Current liabilities Trade payables Short-term borrowings Income tax (26,447-5) 4,302-5 (523.0) (669.4) (510.9) 1-6 3-4 2,604-2 (723-9) 1,880-3 1,652-3 228-0 1,880-3 22,225-1 1,662-7 306-5 5,217-0 4,633-6 62.5 4,300-0 14,643-7 5,579.3 662-4 777-6 2019 $ million 24,194.3 9.913-1 34.107-4 18,943-7 2,010-5 6,133-9 7,019-3 34.107.4 $ million 19,332-8 1,865-3 372-4 13-8 4,881-0 4,670-0 88-3 2018 3,600.0 12,991-4 5,356-3 507-7 884-7 $ million 21,584-3 9.639-3 31,223-6 16,591-4 1,870-5 6,013-0 6.748-7 31,223-6
Transcribed Image Text:The summarized consolidated financial statements of the ALBA Group for the year ended 30 April 2019 are as follows: ALBA Group: Consolidated income statement for the year ended 30 April 2019 Revenue Cost of sales Gross profit Distribution costs Administrative expenses Finance cost Share of profit of associate Profit on disposal of associate Profit before tax Income tax Profit for the period Attributable to Equity holders of the parent NCI ASSETS Non-current assets Property, plant and equipment Goodwill Intangible assets Investment in associate Current assets Inventories Trade receivables Cash EQUITY AND LIABILITIES Equity ALBA Group: Balance sheet at 30 April 2019 $ million Share capital Retained earnings NCI Non-current liabilities Long-term borrowings $ million 30,750-0 Current liabilities Trade payables Short-term borrowings Income tax (26,447-5) 4,302-5 (523.0) (669.4) (510.9) 1-6 3-4 2,604-2 (723-9) 1,880-3 1,652-3 228-0 1,880-3 22,225-1 1,662-7 306-5 5,217-0 4,633-6 62.5 4,300-0 14,643-7 5,579.3 662-4 777-6 2019 $ million 24,194.3 9.913-1 34.107-4 18,943-7 2,010-5 6,133-9 7,019-3 34.107.4 $ million 19,332-8 1,865-3 372-4 13-8 4,881-0 4,670-0 88-3 2018 3,600.0 12,991-4 5,356-3 507-7 884-7 $ million 21,584-3 9.639-3 31,223-6 16,591-4 1,870-5 6,013-0 6.748-7 31,223-6
Notes 1. 2. 3. 4. 5. 6. 7. Depreciation of $2,024-7 million was charged in respect of property, plant and equipmentin the year ended 30 April 2019. On 1 January 2019 ALBA disposed of the investment in associate for $18 million. The stæof profit in the income statement relates to the period from 1 May 2018 to 31 December 2018. A dividend was received from the associate on 1 June 2018. There were no other disposals, and no acquisitions, of investments in the accounting period. Goodwill in one of the group's subsidiaries suffered an impairment during the year. The amount of the impairment was included in cost of sales. The total interest paid for the fiscal year ending 30 April 2019 was $390. Amortization of 25% of the opening balance of intangibles was charged to cost of sales.A manufacturing patent was acquired for a cash payment on 30 April 2019. An issue of share capital at par was made for cash during the year. Dividends were paid to noncontrolling interest during the year, but no dividend was paid to theequity holders of the parent entity. Required: Prepare the consolidated cash flow statement of the ALBA Group for the financial year ended 30 April 2019. The cash flow statement should be presented in accordance with the requirements of IAS 7 Cash Flow Statements and using the indirect method. Notes to the financial statement are NOT required, but full workings should be shown.
Transcribed Image Text:Notes 1. 2. 3. 4. 5. 6. 7. Depreciation of $2,024-7 million was charged in respect of property, plant and equipmentin the year ended 30 April 2019. On 1 January 2019 ALBA disposed of the investment in associate for $18 million. The stæof profit in the income statement relates to the period from 1 May 2018 to 31 December 2018. A dividend was received from the associate on 1 June 2018. There were no other disposals, and no acquisitions, of investments in the accounting period. Goodwill in one of the group's subsidiaries suffered an impairment during the year. The amount of the impairment was included in cost of sales. The total interest paid for the fiscal year ending 30 April 2019 was $390. Amortization of 25% of the opening balance of intangibles was charged to cost of sales.A manufacturing patent was acquired for a cash payment on 30 April 2019. An issue of share capital at par was made for cash during the year. Dividends were paid to noncontrolling interest during the year, but no dividend was paid to theequity holders of the parent entity. Required: Prepare the consolidated cash flow statement of the ALBA Group for the financial year ended 30 April 2019. The cash flow statement should be presented in accordance with the requirements of IAS 7 Cash Flow Statements and using the indirect method. Notes to the financial statement are NOT required, but full workings should be shown.
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