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LIPC 3430 - Introduction to Accounting

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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

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(a)    Below is the extract of the Income statement of the company and couple of ratios has been calculated for discussion

Income Statement (Euro)

in '000

in '000

Nixon Ltd

Zip Ltd

Revenue

638

493

Less: Cost of Sales

331

297

Gross Profit

307

196

Total Cost

135

75

 - Distribution

36

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