Solve this Income statement by Vertical analysis: SWEETS OF OMAN SAOGSTATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 DECEMBER 20192019RO2018RONoteIncome from operationsCost of operations1910,576,96912,670,82720(7,326,435)(8,869,473)Gross profit3,250,5343,801,354Other income2144,40573,107General and administration22(711,205)(2,092,589)(680,727)Selling and distribution(2,750,649)(10,000)23Allowance for credit losses (net)9.(14,500)Profit from operations476,645433,085Finance charges25(379,773)(375,171)Profit for the year before taxation96,87257,914Income tax(16,614)(10,284)Net profit and total comprehensive income for the year80,25847,630Basic earnings per share260.0110.007====The notes on pages 10 to 39 form part of these financial statements.Auditor's report: pages 1 - 5

Financial statements like Income Statement & Balance Sheet…

Answered: F COMPREHE ENDED 31 D

Business

Accounting

F COMPREHE ENDED 31 D

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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Question

Solve this Income statement by Vertical analysis:

SWEETS OF OMAN SAOG
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2019
2019
RO
2018
RO
Note
Income from operations
Cost of operations
19
10,576,969
12,670,827
20
(7,326,435)
(8,869,473)
Gross profit
3,250,534
3,801,354
Other income
21
44,405
73,107
General and administration
22
(711,205)
(2,092,589)
(680,727)
Selling and distribution
(2,750,649)
(10,000)
23
Allowance for credit losses (net)
9.
(14,500)
Profit from operations
476,645
433,085
Finance charges
25
(379,773)
(375,171)
Profit for the year before taxation
96,872
57,914
Income tax
(16,614)
(10,284)
Net profit and total comprehensive income for the year
80,258
47,630
Basic earnings per share
26
0.011
0.007
====
The notes on pages 10 to 39 form part of these financial statements.
Auditor's report: pages 1 - 5

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