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Section A:

NMD Retail is a company that manufactures and sells tables.Using the company’s financial information provided below, constructtheir Income Statement and then the Statement of Financial Positionfor the year ending 31^st March 2018.

                                                                       £’000

• Bankoverdraft                                       150
• Cash and cashequivalents                    220
• Cost of goodssold                                34,020
• Dividends                                              200
• Financingcosts                                     21,046
• Fixtures andfittings                               2,875
• Interestreceived                                    559
• Inventories                                            8,500
• Land andbuildings                                18,718
• Loans                                                    27,946
• Long terminvestments                          8,514
• Operatingexpenses                              15,256
• Otherreceivables                                  10
• Plant                                                     15,012
• Short terminvestments                          160
• Short termLoans                                   1,310
• Taxationdue                                         7,850
• Taxationpaid                                        4,782
• Tradepayables                                     8,520
• Tradereceivables                                  8,420
• Turnover                                               83,254
• Vehicles                                                1,235
• Year beginning retainedearnings          2,256

Note: The dividend amount is outstanding and expected to be paidsoon. The shareholders’ equity is not listed, but should beinferred after calculating other amounts.

There is a maximum of 20 marks available for this question,10 for each of the statements.