CORRECT TEXT


CORRECT TEXT

Refer to the exhibit.

The following is an extract from the trial balance of a business for its most recent year:

Net profit before tax has already been calculated as being £27m. Income tax of £5m is to be provided, and a final dividend of 30p per share is declared.

Using some or all of the figures above, the correct figure of retained profit for the year is

Answer: £12 million

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