Answered step by step
Verified Expert Solution
Question
1 Approved Answer
answer fully Timber Ltd. Statement of Financial Position as at 31.12.19 and 31.12.18 2019 2018 E 274,400 229,430 Assets Non-current Assets Current Assets Trade Receivables
answer fully
Timber Ltd. Statement of Financial Position as at 31.12.19 and 31.12.18 2019 2018 E 274,400 229,430 Assets Non-current Assets Current Assets Trade Receivables Inventories Cash at Bank Total Assets I 85,450 52,345 85,300 65,490 92,007 262.757 43.222 161.057 537.157 390,487 250,000 235,000 62.157 312,157 25,487 260,487 Equity and Liabilities Equity Share Capital Retained Earnings Long-term Liabilities Long-term Borrowings Current Liabilities Trade Payables Total Equity and Liabilities 80,000 145.000 130.000 537 157 390,487 Timber Ltd, Income Statement for the years onding 31.12.19 and 31.12.18 2019 2018 Sales Revenue 567,584 510,619 Cost of Sales Gross Profit (373,486) 194,098 (323,512) 187,107 I (143,258) (176.139) 10,988 50,840 Expenses Operating Profit Finance Costs Profit before Tax Tax at (5,000) 45,840 10,968 20% (9.168) (2,194) 8.774 Profit after tax 36,672 Additional Information: Assume that all sales are credit sales and no dividend is proposed. You are required: Calculate the following five ratios for both years 2019 and 2018 (4 marks for each ratio for both years). il. iv. V Gross profit ratio Return on Shareholder's funds Current ratio Quick ratio Trade receivables turnover ratio Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started