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Prepare the income statement of company Best Trading Ltd., based on the following information: sundry...

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Accounting

Prepare the income statement of company Best Trading Ltd., based on the following information: sundry debtors 20,000 lei, deferred revenues from rent 120,000 lei, expenses with rent 15,000 lei, short term financial investments 150,000 lei, investments in subsidiaries 150,000 (out of which 100,000 lei will be sold within 12 months), revenues from sales of finished goods 560,000 lei, buildings (carrying amount) 750,000 lei, expenses with equipment depreciation 57,000 lei, goods for resale 250,000 lei, interest expenses 25,000 lei, long term bank loans 200,000 lei, reserves 150,000 lei, expenses with wages 120,000 lei, salaries to be paid 50,000 lei, share capital 75,000 lei, revenues from services rendered 250,000 lei, cash at banks 300,000 lei, energy, fuel and postage costs 50,000 lei. In order to prepare the companys financial statements, determine the current profit or loss, as well as the retained earnings.

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