World's Leading Assignment Library
Choose Your Topic
LIPC 3430 - Introduction to Accounting
Question Preview
Assignment brief You have been asked by a client to advice on the financial position of two companies in a similar trade sector. You have been supplied with the following financial statements. Income Statement for the year ended 31 March 2016 Nixon Ltd Zip Ltd Notes £000 £000 Revenue 638 493 Cost of sales (331) (297) –––––– –––––– Gross profit 307 196 Distribution costs (36) (29) Administrative expenses 1 (99) (46) –––––– –––––– Profit before taxation 172 121 Taxation (21) (22) –––––– –––––– Profit for the year 151 99 ====== ====== Page 3 Statement of financial posi
Answer Preview
(a) Below is the extract of the Income statement of the company and couple of ratios has been calculated for discussion
