Given:

• 12 months average market capitalization of the company is 2.243 Billion.
• The cash is deposited with conventional bank.
• Marketable securities are equity in Kuwait Equity Market.
• The company does not have Interest bearing investment such as bond.
• The company has several modes of non-current leverage including Murabaha financing as well as lease from Islamic bank.
• The Revenues of the company were originated from shariah compliant activities.

Required:

Identify whether if the SAPTCO company is shariah compliant equity? Calculate the necessary ratios and explain your answer?

SAUDI PUBLIC TRANSPORT COMPANY AND ITS SUBSIDIARY (SAUDI JOINT STOCK COMPANY) CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 December 2020 31 December 2020 SR'000 31 December 2019 SR'000 Note Assets Non-current assets Property, plant, equipment, buses and trucks Intangible assets Investment properties Amounts due from a related party - non-current portion Investments in associates and a joint venture Investments in equity instruments at FVOCI Unbilled receivables-non-current portion Other non-current assets Total non-current assets Current assets Inventories Trade receivables, unbilled receivables and other receivables Amounts due from a related party - current portion Prepayments and other current assets Cash and cash equivalents 13 14 15 33 16 17 19 1,172,544 584,158 307,122 45,449 94,311 1,255, 766 345,955 307,122 67.145 138,352 90.101 1,032,945 5,306 3,242,692 1,329,587 4,487 3,537,658 18 19 33 20 21 18,069 683,056 48,262 52,066 351,583 1,153,036 7.016 1.160,052 4,697 710 30,752 307,545 36,210 138,562 338,438 851,507 22 Assets held for sale Total current assets Total asset 851.507 4,094,199 1,250,000 24 42,730 17 1.250,000 183,471 42,730 (6,495) 163,801 1,633,507 6,640 1,640,147 (22,067) 1.270.663 4,085 1,274,748 35 26 27 28 Equity and liabilities Equity Issued capital Statutory reserve Consensual reserve Investments revaluation reserve (Accumulated Losses) Retained earnings Equity attributable to shareholders of the parent company Non-controlling interest Total equity Non-current liabilities Murabaha financing-non-current portion Lease liabilities -non-current portion Employee defined benefits obligation Advance from a customer-non-current portion Deferred revenue -non-current portion Total non-current liabilities Current liabilities Murabaha financing - current portion Short term murabaha financing Lease liabilities - current portion Trade and other payables Due to non-controlling interests of the subsidiary Accrued and other liabilities Deferred revenue - current portion Advance from a customer current portion Zakat and income tax payable Total current liabilities Total liabilities Total liabilities and equity 943,763 31,041 145,612 1.437,950 4,675 2,563,041 336,663 8,529 137,516 959,078 5,313 1,447,099 30 26 26 27 31 33 32 30 29 116,514 150.295 1,450 287,320 6,480 123.160 19,756 118,197 36. 746 8$9.921 3,422.962 4,697,710 84.209 339,181 1.779 345,156 12,118 129,595 16,567 48,901 29,447 1,006,953 2,454,052 4,094,199 SAUDI PUBLIC TRANSPORT COMPANY AND ITS SUBSIDIARY (SAUDI JOINT STOCK COMPANY) CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED 31 December 2020 Note 2020 SR'000 2019 SR'000 Revenues Cost of revenue Gross (loss) profit 6 7 1,169,662 (1,289,806) (120,144) 1,711,891 (1,492,525) 219,366 Selling and distribution expenses Administrative expenses Impairment of assets held for sale Operating (loss) profit 8 9 22 (34,679) (103,832) (42,705) (301,360) (47,048) (123,048) 49,270 16 16 Share in (loss) profits of a joint venture Share in profits of an associate Finance income Finance costs Other income 21&33 26 10 (44,041) 244 4,677 (35,654) 12,683 18,741 1,728 1,465 (36,746) 16,693 (Loss) income before zakat and income tax Zakat and income tax 11 (363,451) (14,264) 51,151 (17,227) (377,715) 33.924 (Loss) income for the year (Loss) income for the year attributable to: Shareholders of the Parent Company Non-controlling interest (375,160) (2.555) 35,324 (1,400) (377,715) 33,924 (Loss) earnings per share (in Saudi Riyal): Basic and diluted, from the (loss) income for the year attributable to shareholders of the parent company 12 (3.00) 0.28