MYN CORPORATION

Statement of Financial Position as at December 31,

	2020(RM)	2019(RM)	2018(RM)
Assets
Cash and equivalents	612,492	217,961	131,085
Account receivables	454,760	554,200	400,522
Inventories	414,770	355,642	400,522
Prepaid expenses	0	66,000	54,000
Fixed assets	1,937,900	2,437,900	1,837,900
Accumulated depreciation	621,370	427,580	183,790
Total assets	2,798,552	3,204,123	2,650,917
Liabilities and Equity
Accounts payable	236,297	299,600	243,566
Accrued expenses	26,435	36,202	32,400
Current maturities	100,000	296,400	302,600
Income taxes payable	139,804	128,453	125,663
Long-term debt	800,000	986,300	222,400
Common stock RM0.20 par value	1,000,000	1,000,000	1,000,000
Paid-in capital	500,000	500,000	500,000
Retained earnings	(3,984)	(42,832)	224,288
Total liabilities and equities	2,798,552	3,204,123	2,650,917
MYN CORPORATION
Statement of Financial Performance for Years Ending December 31,
	2020(RM)	2019(RM)	2018(RM)
Net Sales	3,055,563	2,983,410	3,245,427
Cost of Goods Sold	2,205,830	2,104,451	2,056,670
Gross Profit	849,733	878,959	1,188,757
Selling and Administrative Expenses	328,523	265,525	278,855
General expenses	203,520	200,455	189,962
Depreciation	193,790	243,790	183,790
Earnings before interest and tax	123,900	169,189	536,150
Interest expense	63,000	89,789	85,750
Earnings before tax	60,900	79,400	450,400
Tax (28%)	17,052	22,232	126,112
Earnings after tax	43,848	57,168	324,288

Myn Corporation is a company dealing with textiles manufacturing and has been in the market for almost 10 years. Since the textile industry is getting more competitive, Myn is planning for business expansion. Using the provided financial statements, you are assigned to conduct a comprehensive analysis on Myn Corporation in order to identify the strengths and weaknesses of its financial position.

Using average values, compute any two relevant financial ratios for each area that are useful to highlights Myns overall financial performance for 2020 and 2019, related to:

1. Ability to meet maturing obligations.

2. Ability to service debt and the degree of financial risk.

3. Effectiveness in managing assets and efficiency in handling operations.

4. Profitability and overall operating results.