QUESTION 4 20 MARKS REQUIRED Use the information provided below to prepare the following pro...
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QUESTION 4 20 MARKS REQUIRED Use the information provided below to prepare the following pro forma statements:. 4.1 S tatement of Comprehensive Income for the year ended 31 December 2023 4.2 Statement of Financial Position as at 31 December 2023 (6 marks) (14 marks) INFORMATION Ascot Limited's Pro Forma Statement of Comprehensive Income for its first year of operations ended 31 December 2022 and its Pro Forma Statement of Financial Position as at 31 December 2022 are shown below: Statement of Comprehensive Income for the year ended 31 December 2022 10 000 000 (5 700 000) 4 300 000 (2 000 000 2300000 (20 000) 2 280 000 684 000) 1 596 000 Sales Cost of sales Gross profit Seling, general and administrative expenses Operating proft Interest expense Profit before tax Company tax Profit after tax
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