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9/5 Ratio puzzle 2 The following data are based on company Letas financial statements at year-end 20X7: Equity 3,600 Interest expense 413 Net operating margin
9/5 Ratio puzzle 2
The following data are based on company Letas financial statements at year-end 20X7:
Equity | 3,600 |
Interest expense | 413 |
Net operating margin | 24% |
Return on equity | 22% |
Income tax rate | 10% |
You are asked to use these data to complete company Letas statement of profit or loss for its financial year ending 31 December 20X7, using the following format:
Sales |
|
Cost of sales and other operating expenses |
|
Profit before interest and tax |
|
Interest expense |
|
Profit before tax |
|
Income tax expense |
|
Profit for the period |
|
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