Question 3 From the following data extracted from Wang Enterprises from accounts receivable for June, July and August of 2017 Actual April $168 000 May $176000 June $186000 July $164000 August $165000 Credit sales Credit sales are normally settled according to the following pattern: 60 per cent in the month following sale, and 35 per cent in the second month following the sale. Five per cent of accounts are never settled. Required: Calculate the receipts from accounts receivable for June, July and August of 2017 Question 4 The statement of profit or loss and the balance sheet for MobileNet are presented below Balance sheet as at 30 June 2016 Assets Current assets $20000 5000 32 000 15000 Property, plant and equipment Intangible assets Total assets 72000 s 9000 16000 25 000 Current liablities Long-term liabilities Total liabilities Owner's equity M. Phone-capital Total liabilities & owner's equity 47 000 $72000 Statement of profit or loss for the year ended 30 June 2016 Sales revenue Cost of sales Gross profit Operating expenses Profit $45000 20000 25000 18000 S 7000 Required a) Calculate the following i. the current ratio ii. the return on assets ii. the return on shareholders' funds (owner's equity; use year-end figures) iv, the debt to equity ratio (use year-end figures ignore income tax and interest) b) Prepare a presentation on the financial analysis conducted, c E on the performance and position of MobileNet