In this task, the operation of the craft beer brewery Ipana Oy is examined from the accounting point of view. Ipana Oy is a brewing company that was founded in 2011 and focuses on specialty beers. The company employs 35 people and focuses on the Finnish specialty beer market. The company sells beer mainly to restaurants and wholesalers, and is currently focusing on increasing direct sales to customers. The company owns its production facility in Kerava, in connection with which the company has considerable storage facilities. In addition, the company rents a small office space in Hakaniemi, Helsinki, at a fairly moderate price (3,200/month). The company produces the successful "Ipana IPA" beer, the selling price of which varies depending on the sales channel, between 2.03/l and 3.12/l. The company prefers domestic raw materials, but most of the hops come from international suppliers. Raw material costs have remained at the same level in recent years, around 0.82/l. Although demand has grown over the years as a result of successful sales and marketing, the company's management is concerned that the company's turnover is dependent on a single product.

Let's examine the financial period 1 January 2020 31 December 2020. At the beginning of the accounting period, Ipana oy has 200,000 liters of raw material in stock. It can be assumed that 1 liter of raw material can be used to produce 1 liter of Ipana IPA. In the finished product warehouse, on the other hand, 150,000 liters of Ipana IPA are waiting for sale. The opening balance sheet for the fiscal year (January 1, 2020) looks like this:

Assets ()
Permanent equivalents
-Fixed asset	15000000
Variable assets
- Raw material warehouse	164000
- Ready-made warehouse	123000
-Trade receivables	240000
- Cash in hand and cash equivalents	113000

Liabilities ()
Equity
-Share capital	9658000
- Accrued earnings	0
- Profit for the period	0
Liabilities
- Long-term loans	5100000
- Maturing loans	800000
-Trade payables	82000

During the accounting period, Ipana oy buys 10,000,000 liters of raw material at a price of 0.82/l. During the accounting period, the company produces a total of 10000000 liters of Ipana IPA, and it manages to sell 10000000 liters of Ipana IPA at an average selling price of 2.4/liter. The other costs of the business are 1,100,000 in total, of which the company's personnel costs are 4,400,000 and marketing costs are 2,200,000. At the end of the financial year, the company has accounts receivable for 225,600 and accounts payable for 80,360. The company pays the due loans at the end of the financial year, and at the same time takes out a new loan for a total of 650,000. There is a total of 600,000 in loans due in the next fiscal year. The financiers charge an average 4% interest on the loan capital. The interest rate also corresponds to the expected return on debt, while the expected return on equity is 12%. Depreciation for the financial year is 750,000 and the company invests 1,200,000 in new production equipment during the financial year. During the financial year, Ipana oy pays dividends of 2,341,080 to its owners. The share capital does not change during the financial year. The prices do not include value added tax, corporate tax is 20%.

1.What is the working capital of the enterprise in the opening balance sheet?

2.Calculate the EBITDA for the financial year.

3.Calculate the operating profit (EBIT) for the financial year.

4.Calculate profit for the period before taxes (EBT).

5.Calculate the net profit for the financial year.