Rose Limited operates a small chain of retail shops that sell high-quality teas and coffees.

Approximately half of sales are

ty teas and coffees. Approximately half of sales are on credit. A (Figures in 000)
Income Statement
Revenue £ 12,114.00 (12,080 add 34)
Cost of Sales £ 6,282.00
Gross Profit £ 5,832.00
Labor costs £ 2,659.00 (2,658 add 1)
Depreciation £ 699.00 (625 add 74)
Other operating costs £ 1,003.00
Bad debts £ 20.60 (2% of 1,030)
Obselete stock £ 2.00 £ 4,383.60
Net Profit before interest £ 1,448.40
Interest expense £ 66.00
Net Profit before tax £ 1,382.40
Tax expense £ 414.72 (30 % of 1,382.40)
Net profit after tax £ 967.68
Dividend paid £ 300.00
Retained profit for year £ 667.68
Retained profit brought forward £ 756.00
Retained profit carried forward £ 1,423.68

Balance Sheet (Figures in 000)

Non Current Assets £ 2,670.00 (2,728 less 74 add 16)
Current Assets
Inventories(stock) £ 1,581.00 (1,583 less 2)
Receivables(debtors) £ 1,009.40 (996 add 34 less 20.6)
Cash £ 26.00
£ 2,616.40
Current Liabilities
Trade payables(creditors) -£ 1,134.00 (1,118 add 16)
Other payables(creditors) -£ 418.00 (417 add 1)
Tax -£ 414.72
Overdraft -£ 596.00
-£ 2,562.72
Net Current Assets £ 53.68
Non Current Liabilities
Secured Loan(2011) -£ 300.00
£ 2,423.68

Equity
Share Capital(50p shares, fully paid) £ 750.00
Share premium £ 250.00
Retained Profit £ 1,423.68
£ 2,423.68