(a)[17]
Prepare the income statement for the year ending 30 June 2019. Use the space on the following page to show your workings.
(b)[4]
State two distinctions between capital reserves and revenue reserves.
(c)[5]
Advise the directors which option should be selected to finance the purchase of the building. Support your answer.
(d(i))[2]
State one advantage and one disadvantage to a business of making every sale on a cash-only basis.
(d(ii))[2]
State one advantage and one disadvantage to a business of making all purchases on a cash-only basis.