Calculating operating profit from retained earnings / profit for the year Flashcards

1
Q

Retained earnings at end start of the year =

A

Add: profit for year (This may be missing figure)
Less: Dividends paid
Add: retained earnings at the start of the year

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2
Q

Profit for the year =

mix around to get figure needed

A

Profit from operations (missing figure)
Subtract: finance costs (interest)
Subtract: tax charged on operating profit

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