An experienced budget analyst at Al Rawa, has been charged with assessing the firms financial performance during 2021 and its financial position at year-end 2021. To complete this assignment, she gathered the firms 2021 financial statements (below). In addition,

he obtained the firms ratio values for 2019 and 2020, along with the 2021 industry average ratios (also applicable to 2019and 2021).

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Q3. Summarize the firms overall financial position on the basis of your findings in part b ( 8 marks )c7

INCOME STATEMENT FOR AL RAWA FOR THE YE ENDED DEC 2021 IS GIVEN BELOW Al Rawa Statement of Retained Earnings for the year enc December 31,2021 Retained earnings (January 12021) $50200 Plus: Net Profits after taxes (2021) Less : Cash dividends(paid during 2021) $4290 Retained earnings balance (December 31,2021) $73,10 Al Rava Historical and Industry Average Ratios