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Please use IFRS and excel, thank you Presented below is an incomplete income statement and incomplete comparative statements of financial position of PT Sukses Selalu
Please use IFRS and excel, thank you
Presented below is an incomplete income statement and incomplete comparative statements of financial position of PT Sukses Selalu PT SUKSES SELALU Income Statement For the Year Ended December 31, 2020 Net Sales $ 10,500,000 1,500,000 Cost of Goods Sold Gross Profit Operating Expenses Income from operations Interest expense Income Before Income Tax Income Tax Expense Net Income 550,000 2019 1,720,000 1,050,000 PT SUKSES SELALU Statements of Financial Position 31 December Assets 2020 Plant Assets (net) $ 4,620,000 Current Assets Inventory Account Receivable (net) ? Cash 480,000 Total Current Assets TOTAL ASSETS Equity & Liabilities Share Capital - Ordinary ($1 par) $ 3,000,000 Retained Earnings 400,000 TOTAL EQUITY $3,400,000 Long-term notes payable ? Current Liabilities ? TOTAL LIABILITIES ? TOTAL EQUITY & LIABILITIES ? $ 3,145,000 $ 7,500,000 $ 3,000,000 375,000 825,000 $ 4,125,000 Additional information: 1. The accounts receivable turnover for 2020 is 8 times 2. All sales are on account 3. The profit margin for 2020 is 14.5% 4. Return on assets is 20% for 2020 5. The current ratio on December 31, 2017 is 2.5 6. The inventory turnover for 2020 is 4.9 times Instructions Compute the missing information given the ratios above. Show computationsStep by Step Solution
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