Income statement of Global Ltd.

for the year 31 st March 2018

₹ ₹
Revenue from sales 13,60,000
Cost Of Goods Sold
Opening stock 3,00,000
Purchases 9,80,000
Purchase Returns (40000)
Less: Discount (12000)
Wages 1,20,000
Carriage Inward 3,800
Less: Closing stock (3,52,000)
Total Cost Of Goods Sold 9,99,800
Gross Profit 3,60,200
Operating Expenses
Salaries 30,000
Advertisement
Rent 16,000 19200
Outstanding Rent 3200
Trade Expenses 23,200
Commission paid
Total Cash Operating Expenses 72,400
EBITDA 2,87,800
Depreciation on Plant & Machinery 17,400
Depreciation on Furniture 6,800
Ammortization of Patents 3,840
Operating Profit (EBIT) 259760
Financial income (Interest Income)
Financial expense (Interest expense)
PBT 2,59,760
Less Tax @ 31.5% (81,824.4)
PAT 1,77,935.6
Less: Interim Dividend
Retained Earnings 1,77,935.6

Balance Sheet as on ------------------------------------------------------------

₹ ₹
EQUITY AND LIABILITIES
Shareholders’ Funds
Share capital 4,00,000
Reserves and surplus
Profit and Loss A/C 60000
General reserve 62,000
Retained earnings 1,77,935.6
Dividend Paid (36000)
TOTAL SHAREHOLDERS’ FUNDS 6,63,935.6
Non-Current Liabilities
Long-term borrowings
Other Long-term borrowings
Long-term provisions
TOTAL NON-CURRENT LIABILITES 0
Current Liabilities
Short-term borrowings
Trade payables 70,000+28,000
Other current liabilities – Outstanding Rent 3,200
Short-term provisions 81,824.4
TOTAL CURRENT LIABILITES 1,83,024.4
TOTAL EQUITY AND LIABILITIES 8,46,960
ASSETS
1.Non-Current Assets
(a) Fixed Assets
(i)Tangible assets
Plant & Machinery : Gross value 1,16,000
Less: depreciation 17,400
Net Value 98,600
Furniture: Gross value 68,000
Less: depreciation 6,800
Net Value 61,200
Total of Tangible Fixed Assets 1,59,800
(ii) Intangible assets
Patents: Gross Value 19,200
Less: Ammortization 3,840
Net Value 15,360
(b) Non-current investments
(c) Long term advances 20000
(d) Other non-current assets
TOTAL NON-CURRENT ASSETS 1,95,160
2.Current Assets
Current investments 5,000
Inventories 3,52,000
Trade receivables 1,10,000
Cash and cash equivalents 1,84,800
Short-term loans and advances
Other current assets
TOTAL CURRENT ASSETS 6,51,800
TOTAL ASSETS 8,46,960