- Prepare Income Statement and Balance Sheet using information given.

Tax rate is 20%.

ROS (Gross margin): 40%.

RONA: 32%.

ROCE: 44%.

Current ratio: 3

Acid-test ratio: 1.5.

Leverage ratio: 38%.

Receivables Turnover: 12

Net Working Capital: $10.000.000

Net Profit: $16.000.000

plz detaily answer

1- Prepare Income Statement and Balance Sheet using information given. Tax rate is 20%. (48 marks ROS (Gross margin): 40%. Current ratio: 3 Receivables Turnover: 12 RONA: 32%. Acid-test ratio: 1.5. Net Working Capital: $10.000.000 ROCE: 44%. Leverage ratio: 38%. Net Profit: $16.000.000 A- Income Statement ( 24 marks): B- Balance Sheet ( 24 marks) Net sale : cash :.......... short term L: (-)cost of sales: Receivables:......... Long term L: Gross profit : . inventories: (-)operating costs $8.000.000 Operating profit (EBIT): fixed Assets: Equity: (-)interest payments $2.000.000. Assets : Funds : Earnings before tax : (-) tax (20\%):... Net Profit \$16.000.000