Question 1 The following are the financial statements of Anna Sdn. Bhd. (Anna) and Banna Sdn. Bhd. (Banna) for the year ended 30 April 2016: Statement of profit or loss for the year ended 30 April 2016 Anna Banna RM RM Revenue Cost of sales Gross profit 769,920 (491,520) 278,400 912,000 (614,400) 297,600 Less: Expenses Administrative expenses Distribution costs Finance cost Profit before tax Tax expenses Profit after tax (34,560) (61,440) (28,800) 153,600 (44,160) 109,440 (28,800) (63,360) (42,240) 163,200 (48,000) 115,200 Statement of financial position as at 30 April 2016 Anna RM Banna RM 595,200 696,960 Non-current assets Property, plant and equipment Current assets Inventories Trade receivables Bank 84,480 88,320 44,160 216,960 812,160 74,880 111,360 105,600 291,840 988,800 Total assets Equity and liabilities Ordinary shares of RM0.50 each Retained earnings 326,400 230,400 556,800 403,200 243,840 647,040 96,000 138,240 Non-current liability Long-term loan Current liabilities Trade payables Accruals Tax payable 67,200 28,800 63,360 159,360 812,160 82,560 49,920 71,040 203,520 988,800 Total equity and liabilities Question 1 (Continued) The inventory amounts for both Anna and Banna as at 1 May 2015 were RM46,080 and RM53,760 respectively Required: (a) Calculate the following ratios for Anna Sdn. Bhd, and Banna Sdn. Bhd. for the year ended 30 April 2016, showing clearly your workings: (1) Gross profit margin; (ii) Net profit margin; (ii) Current ratio; (iv) Quick ratio; (v) Trade receivables turnover (in number of days); (vi) Trade payables turnover (in number of days); (vii) Inventories turnover days. (16 marks) Compare and comment on the performance of Anna Sdn. Bhd. and Banna Sdn. Bhd. based on the ratios calculated in part (a) above. (9 marks) [Total: 25 marks) (b)