The following is the accounts found in the trial balance of Lei, Inc., an SME: 2020 2019 Lease liabilities - current portion 24,979 19,699 Income and other taxes payable 21,185 19,901 Selling and Administrative expense 85,972 82,110 Financing charges - net 45,344 38,304 Dividends Payable 4,116 4,042 Current Portion of biological assets - net 4,151 4,245 Prepaid Expenses and other current assets 86,585 92,043 Investment and advances - net 52,861 50,519 Investment in equity and debt instruments 42,055 42,126 Biological assets - net of current portion 2,808 2,844 Intangible assets - net 279,087 277,460 Other noncurrent assets 110,782 89,215 Loans payable 169,492 184,024 Accounts Payable and accrued expenses 176,037 149,764 Other Income (Charges) - net 6,848 (5,628) Income tax expense 28,513 24,468 Current maturities of long-term debt 43,808 55,697 Long-term debt - net of current portion 638,996 561,918 Cash and Cash equivalents 286,457 243,150 Lease liabilities - net of current portion 117,269 122,367 Other noncurrent liabilities 47,457 47,283 Capital Share 26,630 26,630 Share premium 192,328 199,451 Retained earnings 229,781 221,165 Trade and other receivables - net 136,488 129,893 Inventories 127,463 118,946 Treasury Shares (116,283) (109,501) Sales 1,020,502 1,024,943 Cost of Sales 818,815 825,748 Property, plant and equipment - net 463,614 594,372 Right-of-use-assets - net 173,604 - Investment Property - net 51,779 31,829 Equity in Net Earnings (Losses) of Associates 105 (289) Gain (Loss) on sale of investment (237) (289) Required: Prepare Statement of Comprehensive Income

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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The following is the accounts found in the trial balance of Lei, Inc., an SME:

	2020	2019
Lease liabilities - current portion	24,979	19,699
Income and other taxes payable	21,185	19,901
Selling and Administrative expense	85,972	82,110
Financing charges - net	45,344	38,304
Dividends Payable	4,116	4,042
Current Portion of biological assets - net	4,151	4,245
Prepaid Expenses and other current assets	86,585	92,043
Investment and advances - net	52,861	50,519
Investment in equity and debt instruments	42,055	42,126
Biological assets - net of current portion	2,808	2,844
Intangible assets - net	279,087	277,460
Other noncurrent assets	110,782	89,215
Loans payable	169,492	184,024
Accounts Payable and accrued expenses	176,037	149,764
Other Income (Charges) - net	6,848	(5,628)
Income tax expense	28,513	24,468
Current maturities of long-term debt	43,808	55,697
Long-term debt - net of current portion	638,996	561,918
Cash and Cash equivalents	286,457	243,150
Lease liabilities - net of current portion	117,269	122,367
Other noncurrent liabilities	47,457	47,283
Capital Share	26,630	26,630
Share premium	192,328	199,451
Retained earnings	229,781	221,165
Trade and other receivables - net	136,488	129,893
Inventories	127,463	118,946
Treasury Shares	(116,283)	(109,501)
Sales	1,020,502	1,024,943
Cost of Sales	818,815	825,748
Property, plant and equipment - net	463,614	594,372
Right-of-use-assets - net	173,604	-
Investment Property - net	51,779	31,829
Equity in Net Earnings (Losses) of Associates	105	(289)
Gain (Loss) on sale of investment	(237)	(289)

Required:

Prepare Statement of Comprehensive Income

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