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q5 Interest Expense Cost of goods sold Sales Sales Returns Selling & Admin Expenses Income Tax Expense For the Year Ended December 31 2019 7,500
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Interest Expense Cost of goods sold Sales Sales Returns Selling & Admin Expenses Income Tax Expense For the Year Ended December 31 2019 7,500 OMR 315,000 520,000 20,000 120,800 20,500 2018 6,500 OMR 254,000 440,000 20,000 114,800 15,000 Sohar Co. Statements of Financial Position For the Year Ended December 31 2019 Share Capital - Ordinary 150,000 OMR Land 423,000 Income Taxes Payable 12,000 Short-term Investments 18,000 Accounts Payable 122,000 Accounts Receivable 85,000 Inventory 80,000 Bonds Payable 120,000 Cash 21,000 Retained Earnings 223,000 The company issue 30,000 ordinary shares. 2018 150,000 OMR 383,000 11,000 15,000 110,000 75,000 60,000 80,000 18,000 200,000 Prepare a completed income statement and balance sheet and compute the following ratios for 2019 a. Inventory turnover b. Return on ordinary shareholder's equity C Debt to total assets d. Acid-test e. Profit margin f. Asset turnover 9 Return on assets h. Accounts receivable turnover Current i. Perform vertical and horizontal analysis for this company Problem 2
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