22Different Activities

Practical Examples Balance Sheet (Statement of Financial Position) as of 31/12/2019 Assets SAR SAR Assets Current Assets Cash in hand and at banks Trade and other receivables Inventories (fish and shrimp products) Biological assets (feed/fodder and agricultural crops) Biological assets held for sale Prepaid expenses and other debit balances Total current assets Non-current assets Property, plant, equipment and trees Government subsidies Biological assets Other long-term assets Total assets Liabilities and Shareholders’ Equity SAR SAR Current liabilities Due to banks Accounts payable Accrued expenses and other credit balances Dividend payable Provision for Zakat Current portion of term loan Total current liabilities Non-current assets Provision for end-of-service benefits Term loan Due to related parties Total non-current liabilities Shareholders’ equity Capital Statutory reserve Retained earnings Total shareholders’ equity Total liabilities and shareholders’ equity Income Statement for the Period from 1/1/2019 to 31/12/2019 Item SAR Sales Cost of sales Cost of farms Gross profit Selling and distribution expenses General and administrative expenses Difference in crop inventories valuation at harvest point Other loss (net) Income from operations Finance charges (net) Profit before Zakat Zakat Profit for the year Description Opening Balance Provided During the Year Utilized During the Year Closing Balance SAR SAR SAR SAR Provision for end-of- service benefits Total Movement of Provisions Zakat Calculation Additions to the Base Equity SAR Capital Statutory reserve Retained earnings less dividends Dividend payable Total Obligations on the Zakat payer Loans (obtained on 1 September 2018) (365 /120 * 3,800,000) Due to related parties Provision for end-of-service (opening balance minus the amount utilized during the year). Total external sources of funds subject to Zakat Total additions to the base Item Amount Adjustment to activity result SAR Net profit before Zakat and income tax Add: Provision for end-of-service benefits Total adjustment to activity result Deduction from Zakat Base SAR Property, plant, equipment and trees Biological assets Total assets deducted Zakat base without adjusted year profit Zakat at 2,578%of the zakat base without adjusted profit Adjusted profit Zakat at 2,5% of the adjusted profit Total Zakat 10. Manufacturing Industries Sector