Illustration 4 From the following statements, calculate the various ratios: Extract from statement of Profit and Loss of Juliet & Company 43 for year ending March 31, 2014 Net Sales Less: Cost of goods sold Gross Profit Operating expenses Operating Profit Interest Income before tax Income tax provision Net Income after tax for the year 600 360 240 156 84 8 76 38 38 (in 3 000) % sales 100.0 60.0 40.0 26.0 14.0 1.3 12.7 6.4 6.3 Balance Sheet of Julient & Co. (as on March 31, 2012 and 2013) March 31, 2013 (in 000) ) March 31, 2014 Assets: Current Assets: Cash 60 60 100 20 240 80 60 120 20 280 Account receivables (net) Inventories Pre-paid expenses Total Current Assets Fixed Assets: Land Building and structures Less: Accumulated depreciation Net Buildings structures Total Fixed Assets 60 240 120 120 180 60 240 140 100 160 20 460 420 Other Assets Goodwill and patents Total Assets Liabilities and Equities Current Liabilities: Accounts payable Wages and taxes outstanding Income tax payable Total Current Liabilities Long-term Liabilities: 10% Mortgage Debentures Total Liabilities Shareholders' Equity Share capital (6,000 shares of 20 each fully paid) Retained earnings Total Shareholders' Equity Total Liabilities and Equities 50 30 20 100 60 20 40 120 80 180 80 200 120 120 240 420 120 140 260 460