Australian Edition 3, Updated for MYOB v19 Close this previous page Completed By: FA Account # Account YTD Debit ($) YTD Credit ($) 1-1110 Cheque Account 71,437 1-1200 Accounts Receivable 91,691 1-1210 Less Prov'n for Doubtful Debts 815 1-1300 117,610 Inventory Office Supplies 1-1400 2,111 1-1500 Prepaid Rent 8,000 1-3110 Property & Equipment at Cost 54,500 1-3120 Property & Equipment Accum Dep 20,854 2-1200 Accounts Payable 54,670 2-1310 GST Collected 15,432 2-1330 GST Paid 12,737 2-1420 PAYG Withholding Payable 2,925 2-1800 Short Term Loans 14,000 2-2100 Bank Loans 49,000 3-1100 Share Capital 55,000 3-8000 Retained Earnings 134,555 4-1100 Sales Revenue 223,136 5-1100 Cost of Sales 153,015 6-1100 20,854 6-1800 Depreciation Expense Office Supplies Expense Salaries Expense 2,972 6-1930 22,685 6-2200 Telephone Expense 5,249 6-2420 5,577 Electricity Expense Bank Charges 6-2500 52 6-2600 Bad Debts Expense 1,772 8-1000 Interest Income 610 9-1000 Interest Expense 735 Total: 570,997 570,997 REQUIRED 1) Produce the Balance Sheet and Income statement of the fictional company from Assessment 2 Part A. 2) Using the Balance Sheet and Income Statement of the company obtained from Assessment 2 Part A, calculate and analyse the ratios for profitability, liquidity and solvency. * Your financial analysis in your written report should contain the calculations * and analysis of the following ratios: = Current ratio = Current Assets / Current Liabilities Quick ratio = (Current Assets Inventory) / Current Liabilities Inventory turnover = Cost of Good Sold / Inventory Gross profit Margin %= Gross Profit / Net Sales Net profit Margin % = Net Profit / Net Sales Return on Asset % = Net Profit / Total Assets Debt to Asset Ratio = Total Liabilities / Total Assets