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 2019 and 2021).

LG1

TO DO

Q1. Use the firms 2021 financial ratios, and then fill in the preceding table. (Assume a 365-day year.) (28 marks ) (2 mark each ratio listed above )c3

AI Rawa Statement of Retained Earnings for the year ended December 31,2021 Retained earnings (January 12021) $50200 Plus: Net Profits after taxes (2021) $42900 Less: Cash dividends(paid during 2021) $20000 Retained earnings balance (December 31,2021) \$73,100 Al Rawa Historical and Industry Average Ratios