PQ is a retail business.

In 20X4 PQ reduced the unit selling price resulting in an increase in volumes sold and an increase in overall revenue.

PQ changed suppliers early in 20X4 because the new supplier agreed to supply the same goods at a cheaper price.

In 20X4 taxation legislation was amended which reduced the rate of corporate income tax by 3.5%.

In 20X4 PQ sold a retail outlet resulting in a significant gain on disposal which has been deducted from administrative expenses.