Q3D (20 Marks)

Balance Sheet as 31st December 2019

Current Assets

Current Liabilities

Cash

48,510

Accounts Payable

54,840

Accounts Receivables

30,470

Notes Payable

21,600

Inventory

54,310

Others

31,106

Total

133,290

Total

107,546

Fixed Assets

Long Term Debt

190,000

Plant & Equipment

731,468

Owners Equity

80,000

Retained Earnings

487,212

Total

567,212

Total Assets

864,758

Total Liabilities + OE

864,758

Income Statement

Sales

733,992

Cost of Goods sold

506,244

Depreciation

64,440

EBIT

163,308

Interest Paid

28,600

Taxable Income

134,708

Taxes 35%

47,148

Net Income

87,560

Dividends

40,000

Addition to Retained Earnings

47,560

Quick ratio?

Inventory turnover ratio?

Return on Assets?