Cocky Ltd, engaged in retailing consumer durables, received R30 000 as dividend from the investments it holds in other companies. This should be reported in current year’s financial statements as: as an income after identifying profit from operations, in the statement of income or as addition to equity and reserves total in the statement of financial position or addition to retained earnings brought forward in the statement of changes in equity or as a deduction from administration expenses in the statement of income.

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