This report provides an analysis of JB Hi-Fi Limited's profit and loss statement and comprehensive income statement. It examines the key differences between the profit and loss account, which measures business profitability, and comprehensive income, which includes items like reclassification adjustments. The report references AASB 1 to assess the company's performance and discusses transactions not typically included in the profit and loss statement, such as pension profits/losses, foreign currency adjustments, and gains/losses from derivatives and securities. The analysis covers the financial years ending 2017 and 2018, highlighting revenue and profit figures and changes in comprehensive income due to factors like fair value adjustments of cash flow hedges. The report also addresses the issue of recycling gains and losses from equity to the profit and loss account and concludes by suggesting that JB Hi-Fi could potentially record gains and losses directly in the profit and loss account to streamline reporting and avoid potential issues with earnings per share (EPS) for investors.