财务报表分析-第三次案例.docx

PAGE 1 1 Tangier’s summarised financial statements for the years ended 30 September 2014 and the comparative figures are shown below. Statements of profit or loss for the year ended 30 September: 2014 2013 $m $m Revenue 2,700 1,820 Cost of sales (1,890) (1,092) –––––– –––––– Gross profit 810 728 Administrative expense (345) (200) Distribution costs (230) (130) Finance costs (40) (5) –––––– –––––– Profit before taxation 195 393 Income tax expense (60) (113) –––––– –––––– Profit for the year 135 280 –––––– –––––– Statements of financial position as at 30 September: 2014 2013 $m $m $m $m Non-current assets Property, plant and equipment 680 410 Intangible asset: manufacturing licence 300 200 Investment at cost – Raremetal 230 nil –––––– –––– 1,210 610 Current assets Inventory 200 110 Trade receivables 195 75 Bank nil 395 120 305 –––– –––––– –––– –––– Total assets 1,605 915 –––––– –––– Equity and liabilities Equity shares of $1 each 430 250 Retained earnings 375 295 –––––– –––– 805 545 Non-current liabilities 5% secured loan notes 100 100 10% secured loan notes 300 400 nil 100 –––– –––– Current liabilities Bank overdraft 110 nil Trade payables 210 160 Current tax payable 80 400 110 270 –––– –––––– –––– –––– Total equity and liabilities 1,605 915 –––––– –––– The following additional information has been obtained in relation to the operations of Tangier for