INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 20X6

DETAILS AMOUNT(TSH) AMOUNT(TSH)

Revenue 190,576
Less:Cogs
Purchases 119,832
COGAS 119,832
Less:closing stock 12,408
COGS 107,424 107,424
GROSS PROFIT 83,152
Less:expenses
Salaries 56,527
Motor expenses 2,416
Rent 1,894
Insurance 372
General expenses 85
TOTAL EXPENSES 61,294
PROFIT FOR THE YEAR 21,858

FINANCIAL POSITION AS AT 31DECEMBER 20X6

DETAILS AMOUNT(TSH) AMOUNT(TSH)
NON-CURRENT ASSETS
Premises 95,420
Motor vehicle 16,594
TOTAL NON-CURRENT ASSETS 112,014 112,014

CURRENT ASSETS
Closing stock 12,408
Debtors 26,740
Cash:bank 16,519
Cash 342
TOTAL CURRENT ASSETS 56,009 56,009
TOTAL ASSETS 168,023

EQUITY AND LIABILITIES

EQUITY
Capital 138,066
Profit for the year 21,858
Less:drawings 8,425
NET CAPITAL 151,499

LIABILITIES
Creditors 16,524
TOTAL EQUITY AND LIABILITIES 168,023
31 DECEMBER 20X6

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