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Express the following income statement information in common-size percents and assess whether this company’s situation is favorable or unfavorable?

Express the following income statement information in common-size percents and assess whether this company’s situation is favorable or unfavorable?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Express the following income statement information in common-size percents and assess whether this company’s situation is favorable or unfavorable?
DHOFAR CATTLE FEED COMPANY SAOG AND ITS SUBSIDIARIES STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2020 Parent Company 2020 RO'000 Group 2019 RO'000 Parent Company 2019 RO'000 Note INCOME 34,725 40,949 95 34,111 Revenue from sale of goods and service Rental income 27 69 107 ....* w 34,180 41,044 34,832 www 28 (29,426) (32,540) (28,331) Cost of sales 4,754 8,504 6,501 Gross profit EXPENSES Selling and distribution expenses General and administrative expenses 4,269 1,480 4,207 1,486 76 29 4,897 2,780 30 26 1 76 143 Directors remuneration 5,825 7,820 5,769 Profit/(loss) from operations (1,071) 684 732 313 307 32 223 313 Dividend income Other income Share of result of associates Finance cost (net) 33 1,653 342 34 (845) (1,331) (928) (40) 424 Profit/(loss) before taxation 22 (2) 30 (1) Taxation Profit/(loss) for the year (42) 39 423 Other comprehensive income for the year: Potentially reclassified to the income statement Movement in fair value reserve (475) (1,643) (1,643) www (475) (1,643) (1,643) Other comprehensive expense for the year Total comprehensive loss for the year (517) (1,604) (1,220) Net profit/(loss) attributable to: Shareholders of the Parent Company Non-controlling interest (42) 101 423 (62) (42) 39 423 Total comprehensive income attributable to: Shareholders of the Parent Company Non-controlling interest (1,542) (62) (517) (1,220) (517) (1,604) (1,220) 35 (0.001) 0.001 0.005 Earnings per share (RO) The notes on pages 12 to 55 form an integral part of these financial statements. Independent auditor's report - pages 1 to 6 Page: 8
Transcribed Image Text:DHOFAR CATTLE FEED COMPANY SAOG AND ITS SUBSIDIARIES STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2020 Parent Company 2020 RO'000 Group 2019 RO'000 Parent Company 2019 RO'000 Note INCOME 34,725 40,949 95 34,111 Revenue from sale of goods and service Rental income 27 69 107 ....* w 34,180 41,044 34,832 www 28 (29,426) (32,540) (28,331) Cost of sales 4,754 8,504 6,501 Gross profit EXPENSES Selling and distribution expenses General and administrative expenses 4,269 1,480 4,207 1,486 76 29 4,897 2,780 30 26 1 76 143 Directors remuneration 5,825 7,820 5,769 Profit/(loss) from operations (1,071) 684 732 313 307 32 223 313 Dividend income Other income Share of result of associates Finance cost (net) 33 1,653 342 34 (845) (1,331) (928) (40) 424 Profit/(loss) before taxation 22 (2) 30 (1) Taxation Profit/(loss) for the year (42) 39 423 Other comprehensive income for the year: Potentially reclassified to the income statement Movement in fair value reserve (475) (1,643) (1,643) www (475) (1,643) (1,643) Other comprehensive expense for the year Total comprehensive loss for the year (517) (1,604) (1,220) Net profit/(loss) attributable to: Shareholders of the Parent Company Non-controlling interest (42) 101 423 (62) (42) 39 423 Total comprehensive income attributable to: Shareholders of the Parent Company Non-controlling interest (1,542) (62) (517) (1,220) (517) (1,604) (1,220) 35 (0.001) 0.001 0.005 Earnings per share (RO) The notes on pages 12 to 55 form an integral part of these financial statements. Independent auditor's report - pages 1 to 6 Page: 8
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