Pluton Lid Income Statement for the year ended 30 June 2020 2020 2019 Net sales man $180,000 $200,000 Cost of sales .mmmmmm 120.000 100.000 Gross profit....... 60,000 100,000 Expenses Depreciation expense ... 15,000 15,000 Interest expense .. 4,000 5,000 Selling expenses .......man 6,000 10,000 Administrative expenses .gunman 18.000 15.000 Total expenses .9030 43.000 19.090 Profit before income taxesononemanammoniumunit 17,000 59,000 Income tax expensemmmmmm 5.000 15.000 $12,000 $ 40,000 ProfitThe statement of cash flows of Pluton Lid, a service company. at 30 June 2020 is as follows; Pluton Ltd Comparative Statement of Financial Position At 30 June 2020 Assets 2020 2019 Cash $22,000 $25,000 Marketable securities 15,000 15.000 Accounts receivable 20,000 30,000 inventory 60,000 55,000 Property, plant, and equipment (net) 230.000 200.000 Total assets 347.000 $325.00030.000 60,000 55,000 Property. plant, and equipment (net) 230.000. 200.000 Total assets 347.000 $325.000 Liabilities and equity Accounts payable 27,000 $ 15,000 Short-term notes payable 35,000 35,000 Dividends payable 10,000 Bonds payable 28,000 28,000 Ordinary shares 200,000 200,000 Retained earnings 47.000 47.000 Total liabilities and equity 347.000 $325.000Selling expenses. 6.000 10,000 Administrative expenses . 18.000 15.000 Total expenses .. 43.000 45.000 Profit before income taxes 17.000 55.000 Income tax expense 5.000 15.000 Profit $12,000 $ 40,000 Questions: For the year 2020. 1. What is the cash received from customers? 2. What is the cash pald to suppliers? 3. What is the cash paid for depreciation? 4. What is the cash paid for dividends? 5. What is the cash from operating activities? G. What is the total cash from investing activities? 7. What are the average days of the collection period in 2020 compared with 20197 What is the meaning of the change in this ratio in terms of liquidity of Pluton Lid B. What is the times interest earned in 2020 compared with 2019? What is the meaning of the change in this ratio in terms of the financial risk of Pluton Luf? Notes. a. The beginning balance of accounts receivable in 2019 is $50,000. b. There were not sales of non current assets during the year. c. Use the formulas provided in this course to calculate the ratios. For the toolbar, press ALT . F10 (PC) or ALT . FN . F10 (Mac).Questions: For the year 2020. 1. What is the cash received from customers? 7. What is the cash paid to suppliers? 3 What is the cash paid for depreciation? 4 What is the cash paid for dividends? 5 What is the cash from operating activities? 6. What is the total cash from investing activities? 7. What are the average days of the collection period in 2020 compared with 2019? What is the meaning of the change in this ratio in terms of liquidity of Puton Led? 5. What is the times interest earned in 2020 compared with 20197 What is the meaning of the change in this ratio in terms of the financial risk of Pluton Led? Notes. a. The beginning balance of accounts receivable in 2019 is $50,000. b. There were not sales of non current assets during the year. c. Use the formulas provided in this course to calculate the ratios. For the toolbar, press ALT . F10 (PC) or ALT +FN . F10 (Mac). B I Y S Paragraph Arial V 14px v Ev EVA AI X 0 0Q 50 -. D WORDS POWERED BY THT
