问答题 May Ltd. has the following information: Balance Sheet as at 31 December {{U}}Year 1{{/U}} {{U}}Year 2{{/U}} {{U}}Year 3{{/U}} (＄ '000) (＄ '000) (＄ '000) Fixed Assets (net) 1,600 2,250 5,750 Stock 1,500 2,000 3,500 Debtors 3,025 5,000 6,250 Bank {{U}}2,000{{/U}} {{U}}1,250{{/U}} {{U}}-{{/U}} 8,125 10,500 15,500 Creditors 2,000 2,500 3,100 Taxation 125 140 150 Overdraft {{U}}-{{/U}} {{U}}-{{/U}} {{U}}1,750{{/U}} Financed by ＄1 ordinary shares 500 500 500 Reserves 3,250 5,110 7,750 Bank loan(6% above prime rate due 31/12/2009) {{U}}2,250{{/U}} {{U}}2,250{{/U}} {{U}}2,250{{/U}} Market price per share ＄25 ＄20 ＄16 Profit and Loss Accounts for the year ended 31 December Year 3 Year 4 Year 5 (＄ '000) (＄ '000) (＄ '000) Sales (all credit sales) 24,000 25,000 26,500 Cost of sales {{U}}15,000{{/U}} {{U}}17,500{{/U}} {{U}}19,000{{/U}} Gross profit 9,000 7,500 7,500 Salaries 2,500 2,000 1,900 Selling and delivery 4130 360 320 Advertising 1,100 1,200 1,300 Other expense {{U}}1,375{{/U}} {{U}}490{{/U}} {{U}}480{{/U}} Net profit before taxation