Appendix 3 Extracts from CeeCee’s accounts: Statement of Comprehensive Income, Statement of Financial Position and Statement of Changes in Equity Statement of Comprehensive Income
Year ended 31 December 2008
Year ended 31 December 2007
€ million
€ million
2,700 2,084
2,358 1,824
Operating profit Finance costs (net) Tax expense (effective tax rate is 30%)
616 22 178
534 26 152
Profit for the period
416
356
Sales revenue Operating costs
Statement of Financial Position
As at 31 December 2008 € million
€ million
As at 31 December 2007 € million
1,438
Non-current assets (net) Current assets Trade receivables Inventory Cash and cash equivalents
24 286 313
Total assets Equity and liabilities Equity Share capital Share premium Retained earnings
Current liabilities Trade payables Tax payable
623
428
2,061
1,791
50 40 830 1,128
920
300
300
455 178
Total equity and liabilities
1,363 20 234 174
50 40 1,038
Non-current liabilities
€ million
419 152 633
571
2,061
1,791
Note: Paid in share capital represents 100 million shares of €0.50 each at 31 December 2008 Statement of Changes in Equity
Share capital
Share premium
Retained earnings
Total
€ million
€ million
€ million
€ million
Balance at 31 December 2007 Profit for the period Dividends paid
50 -
40 -
830 416 208
920 416 208
Balance at 31 December 2008
50
40
1,038
1,128
May 2010
15
T4 - Part B Case Study