The SS Company's Statement of Profit and Loss account and… – 2023 Solved

The SS Company's Statement of Profit and Loss account and Statement of Financial Position for two years have been given below:

Statement of Profit and Loss for the year 2022
Particulars	Amount (Rs.)
Revenue from operation	1,000,000
Less: Cost of sales	(650,000)
Gross margin	350,000
Add Other income (including dividend received Rs 21,000)	50,000
Total	400,000
Less: Distribution expenses	(80,000)
Less: Administrative expenses (including depreciation of Rs 75,000 and bad debts of Rs 10,000)	(225,000)
Operating Profit	95,000
Less: Finance cost	(20,000)
Net profit before tax	75,000
Less: Provision for tax	(18,750)
Net profit after tax	56,250
Less: Dividend paid	(10,000)
Retained Earnings	46,250

Statement of Financial Position of a company for 2021 and 2022 :

Assets	2021	2022
Non-Current Assets:
Property, plant and equipment	400,000	500,000
Goodwill	30,000	40,000
Investments	170,000	210,000
Total Non-Current Assets	600,000	750,000
Current Assets:
Inventories/Stock	40,000	50,000
Cash and cash equivalents	50,000	60,000
Account receivables	50,000	70,000
Trade and Other receivables	30,000	40,000
Total Current Assets	170,000	220,000
Fictitious Assets
Total Assets (Total Non-current and Current Assets)	770,000	970,000
Equity:
Share capital @Rs 100 each	400,000	500,000
Reserve/Retained earnings	50,000	96,250
Non-controlling interests
Total Equity	455,000	596,250
Liabilities
Non-Current Liabilities:
Loans and borrowings	100,000	200,000
Total Non-Current Liabilities	100,000	200,000
Current Liabilities:
Trade and other payable	180,000	155,000
Income tax liabilities		18,750
Provisions	40,000
Total Current-Liabilities	220,000	173,750
Total Liabilities (Total Non-current and Current)	320,000	373,750
Total Equity and Total Liabilities	770,000	970,000

Required: Statement of Cash Flow under NFRS

The SS Company's Statement of Profit and Loss account and Statement of Financial Position for two years have been given below: Statement of Profit…