Nandoni wholesalers Ltd is in the process of finalizing the business plan for 2025. The financial controller has a just finalized the preparation of their Statement of comprehensive income as part of the pack of Annual report for the period ended 31 March 2024. Draft Statement of comprehensive Income for Nandonin Wholesalers for period ended 31 March 2024 Revenue 25,637,000 Cost of Sales (12,867,000) Gross profit 12,770,000 Operating Expenses (6,174,000) Admin costs 3,524,000 Distribution costs 1,885,000 Selling costs 765,000 Profit before tax 6,596,000 Tax (@27%) (1,780,920) Net profit for the period 4,815,080 You have been requested to support the managerial finance executive in preparing the 2025 budget using the percentage of sales method The company expects all percentages to remain constant except that: i) They expect administration costs to increase by an extra R1 000 000 due to the leasing of a new administrative building. ii) During the period ended 2024, the company incured a was a once-off distribution cost of R500 000 as a placement fee for having a secured a new distribution channel. iii) This new distribution channel is expected to have a notable increase in the company's growth. lii) They expected turnover to be R40 000 000 for the year. Requirement: Prepare the 2025 budgeted Statement of comprehensive Income using the appropriate method.

Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Medtronic PLC   Consolidated Statement of Income   $ millions, For Fiscal Year Ended April 26, 2019 Net sales $30,557 Costs and expenses   Cost of products sold 9,155 Research and development expense 979 Selling, general, and administrative expense 10,418 Amortization of intangible assets 1,764 Restructuring charges, net 83 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit 7,734 Other nonoperating income, net (157) Interest expense 1,444 Income before income taxes 6,447 Income tax provision 547 Net income 5,900 Net income loss attributable to noncontrolling interests (19) Net income attributable to Medtronic $5,881…

Prepare a projected statement of comprehensive income for the year ended 31 December 2021 to determine the sales needed to produce a profit after tax that is 25% more than that for the year ending 31 December 2020. (Where applicable round of amounts to the nearest rand) INFORMATION: Calder Enterprises Statement of Comprehensive Income for the year ended 31 December 2020 R Sales 5 445 000 Cost of sales (3 539 250) Gross profit Operating expenses Income from operations Interest expense 1905 750 (1 122 000) 783 750 (98 900) Profit before tax 684 850 Income tax (191 758) Profit after tax 493 092 Additional information: 1. Cost of sales is expected to be 60% of sales. 2. Operating expenses will increase by 4%. 3. Interest expense will increase to R120 000. 4. The tax rate will remain at 28% 3.2 Use the information from question 3.1 (not your solution) and calculate the following for the year ending 31 December 2020: 3.2.1 Gross margin 3.2.2 Net profit margin 3.2.3 Operating margin 3.2.4…

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019.  ZIGBY MANUFACTURINGEstimated Balance SheetMarch 31, 2019 Assets         Cash $ 80,000     Accounts receivable   364,000     Raw materials inventory   96,000     Finished goods inventory   364,800     Total current assets   904,800     Equipment   610,000     Accumulated depreciation   (155,000 )   Equipment, net   455,000     Total assets $ 1,359,800     Liabilities and Equity         Accounts payable $ 195,500     Short-term notes payable   17,000     Total current liabilities   212,500     Long-term note payable   510,000     Total liabilities   722,500     Common stock   340,000     Retained earnings   297,300     Total stockholders’ equity   637,300     Total liabilities and equity $ 1,359,800        To prepare a master budget for April, May, and June of 2019, management gathers the following information.  Sales for March total…

Vertical Balance Sheet for Isrceam factory on December 31,the end of the fiscal year, are shown below                                                         2020         2021 Assets  Cash                                             43500        55000 Inventory                                      22000         23500 Equipment and Fixtures              380000       255000 Supplies                                          3800       4100 Prepaid Expenses                          9200       12500 Store Design/Buildout                  27000         27000 Loan Fee                                       4000         5500  Advertising and Marketing             2500        3300 Liabilities                           Bank Loan                                   150000       170000 Owner Contribution                       50000         45000 Prepare a comparative balance sheet for 2021 and 2022, stating each asset as a percent of total assests and each liability and stockholders' equity item as a…

From the trial balance, Prepare the statement of comprehensive income for the year ended 31 December 2020.

Refine Assumptions for PPE ForecastFollowing are the income statement and balance sheet for Medtronic PLC. Consolidated Statement of Income ($ millions) For Fiscal Year Ended April 26, 2019 Net sales $30,557 Costs and expenses   Cost of products sold 9,155 Research and development expenses 2,330 Selling, general, and administrative expense 10,418 Amortization of intangible assets 1,764 Restructuring charges, net 198 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit (loss) 6,268 Other nonoperating income, net (373) Interest expense 1,444 Income (loss) before income taxes 5,197 Income tax provision 547 Net income (loss) 4,650 Net (income) loss attributable to noncontrolling interests (19) Net income (loss) attributable to Medtronic $ 4,631 Consolidated Balance Sheet ($ millions) April 26, 2019 Current assets   Cash and cash equivalents $ 4,393 Investments 5,455 Accounts receivable, less…

Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2022, and from its March 31, 2022, balance sheet to complete the requirements. Computer services revenue $ 25, 364 Net sales (of goods) 18, 138 Total sales and revenue 43, 502 Cost of goods sold 15, 644 Net income 19, 551 Quick assets 90, 356 Current assets 97, 288 Total assets 121, 816 Current liabilities 820 Total liabilities 820 Total equity 120, 996 Required: Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. Compute the current ratio and acid - test ratio. Compute the debt ratio and equity ratio. What percent of its assets are current? What percent are long term?

eon Jung Kook Corp. is preparing its year-end financial statements and has identified the following operating segments and their external revenues and intersegment revenues, respectively:·       Begin- P4,800,000; P2,400,000·       Euphoria- P1,600,000; P400,000·       Decalcomania- P1,500,000; P0·       My Time- P800,000; P0·       Still with You- P600,000; P0·       Paper Hearts- P400,000; P0Which of the following are reportable segments based on revenue test?

How many reportable segments do FRUITAS have for year 2021 in accordance with IFRS 8, Operating Segments?