ocr: Portlands ofYork LTD Summarised Balance Sheet at Summarised Profit and Loss Account for the 31st December, 19X1 year ended 31st December, 19X1 Cost Acc. Depn. N.B.V. Fixed Assets 1160 200 960 CurrentAssets Stock 280 Sales 1,440 Debtors 310 Less Cost of Goods Sold 1,120 Bank 30 Gross Profit 320 620 Less Indirect Expenses 220 Current Liabilities Net Profit 100 Trade Proposed Creditors Dividend 180 20 Less Taxation 40 Tax Due 40 Net Profit After Tax 60 240 Less Dividend 20 Net Total Assets CurrentAssets Less C.L.S 1340 380 Retained Profit 40 Less Long Term Liabilities: Profit Brought Forward 200 ...
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