Financial Statements
A macroeconomic approach has been taken to calculating financial statement reports. The Perpetual Inventory Method (PIM) has been used to determine the value of tangible capital. Using this method, depreciation and investments are also calculated for the financial statement report and are not taken directly from financial statements. Pay adjustments (unpaid labour) have been used when calculating the financial statement report’s operating margin and net income.
Items in the income statement are defined as follows:
+ Turnover
+ Direct subsidies
+ Other income
= Total income
– Wages and salaries
– Unpaid labour
– Energy costs
– Repair and maintenance costs
– Other variable costs
– Other fixed costs
– Fishing permits
= Operating margin
– Depreciation
– Interest
= Net profit