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Question 2 The financial statements of Wong limited and long limited as on December 31, 2017 are as follows: $ Wing $ Sing Assets Non-Current Assets at Net Book Value 2500 2250 Intangible Assets 500 375 Current Assets Stock Prepaid Insurance Net Receivables Cash/ Bank 150 100 250 500 1000 4000 75 225 150 375 750 4500 Total Capital and Liabilities Share Capital Share Premium Revaluation Reserve General Reserve Retained Earnings 1000 500 500 250 ? 1125 375 225 300 375 Long Term Liabilities Loan Stock 750 600 Current Liabilities Accrued Expenses Payables 100 150 1 12.5 262.5 4000 3375 Other Details are as under: Asset at the start of the year amounting as $ 325,000 and $ 317,000 respectively Net profit after Tax for the year was totaled $ 450,000 and 525,000 . . . Tax rate for the year 25% Good will amortized amounting $ 35,000 and $ 45,000 for RJ limited Other Non-cash Expenses $ 30,000 and $ 37,500 respectively Interest rate on long term loan 7% per annum and 9% respectively Market rate of Return is 14.25%per annum Weighted Average Cost of Capital is 15% per annum and 14% per annum respectively . Calculate the following for both of above stated companies a) Residual Income - RI b) Return in Investment - ROI c) Economic Value Added - EVA (5) [12] Question 2 The financial statements of Wong limited and long limited as on December 31, 2017 are as follows: $ Wing $ Sing Assets Non-Current Assets at Net Book Value 2500 2250 Intangible Assets 500 375 Current Assets Stock Prepaid Insurance Net Receivables Cash/ Bank 150 100 250 500 1000 4000 75 225 150 375 750 4500 Total Capital and Liabilities Share Capital Share Premium Revaluation Reserve General Reserve Retained Earnings 1000 500 500 250 ? 1125 375 225 300 375 Long Term Liabilities Loan Stock 750 600 Current Liabilities Accrued Expenses Payables 100 150 1 12.5 262.5 4000 3375 Other Details are as under: Asset at the start of the year amounting as $ 325,000 and $ 317,000 respectively Net profit after Tax for the year was totaled $ 450,000 and 525,000 . . . Tax rate for the year 25% Good will amortized amounting $ 35,000 and $ 45,000 for RJ limited Other Non-cash Expenses $ 30,000 and $ 37,500 respectively Interest rate on long term loan 7% per annum and 9% respectively Market rate of Return is 14.25%per annum Weighted Average Cost of Capital is 15% per annum and 14% per annum respectively . Calculate the following for both of above stated companies a) Residual Income - RI b) Return in Investment - ROI c) Economic Value Added - EVA (5) [12]