Reference no: EM132769651
Question - Melbourne Ltd Statement of Comprehensive Income for reporting period ended 30 June 2016
Revenues from ordinary activities $100,000
Expenses from ordinary activities (excluding borrowing costs expense) * $93,000
Finance costs $1,000
Profit from ordinary activities before income tax expense $6,000
Income tax expense relating to ordinary activities $4,000
Profit after tax $2,000
* Expenses from ordinary activities included:
Cost of goods sold $55,000
Wages and salaries $25,000
Rent $4,000
Power and light $1,000
Advertising $3,000
Depreciation $5,000
Required - Prepare value added statement for Melbourne Limited at 30/06/2016.
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