Preeti Designs Ltd Income Statement for the Years Ended 31 March 2020 2019 Sales Less: Cost of Goods Sold $180,000 $65,000 $160,000 $75,000 Gross Profit $115,000 $85,000 Less Expenses Selling & Distribution General & Administration Financial - Interest $85,600 $9,500 $6,500 $55,000 $8,000 $2,000 Total Expenses $101,600 $65,000 Net Profit Before Tax $13,400 $20,000 Tax $3,752 $5,600 Net Profit After Tax $9,648 $14,400 Preeti Designs Ltd Balance Sheet as at 31 March 2020 2019 Current Assets Bank Prepaid Insurance Accounts Receivable Inventory Total Current Assets $3,000 $7,500 $20,000 $24,000 $2,000 $5,000 $11,000 $17,000 $54,500 $35,000 Non-current Assets Motor Vehicle - Cost Less: Accumulated Depreciation Net Book Value $15,000 -$9,000 $6,000 $15,000 -$6,000 $9,000 Factory and Equipment - Cost Less: Accumulated Depreciation Net Book Value $85,000 -$20,000 $65,000 $70,000 $15,000 $55,000 Total Non-current Assets Total Assets $71,000 $125,500 $64,000 $99,000 Current Liabilities Accounts Payable Tax Payable Total Current Liabilities $16,700 $3,752 $20,452 $8,000 $1,600 $9,600 $20,000 Non-current Liabilities Loan from Business Bank of Southland Loan from Gold Supply (Southland) Ltd Total Non-current Liabilities Total Liabilities $20,000 $30,000 $50,000 SO $20,000 $70,452 $29,600 $69,400 $79,000 $0 Owner's Equity Opening Equity Capital Introduced Retained Earnings Less: Drawings Closing Equity Total Liabilities & Equity $9,648 -$24,000 $14,400 $24,000 $55,048 $125,500 $69,400 $99,000 Schedule of Financial Indicators 2020 2019 Change in Sales % Gross Profit Margin % Return on Equity % (ROE) Earnings Before Interest and Tax $ (EBIT) Return on Assets % (ROA) Selling/Distribution Expenses to Sales % Administration Expenses to Sales % Financial Expenses to Sales % Current Ratio (times) Acid/Quick Ratio (times) Interest Cover Ratio (times) Total Liabilities to Total Assets % Average Settlement Period for Debtors (Days)** Inventory Turnover (Days)** Average Asset Turnover (times) Round all answers to one decimal place except ** to the nearest day. Use year end figures where averages cannot be calculated