QUESTION THREE Bolstic company Ind is a medium-sized manufacturing company that plans to expand its production capacity. The following are the most recent financial statements of the company 2018 GHS'm 5.000 3.100) 1.900 (400) 1.500 GHS m 5.000 (3.000) 2.000 Sales Cost of Sales Gross Profit Administration and Distribution expenses Profit before interest and tax Interest Profit before Tax 1.750 (380) 1,370 (400) 970 (390) SSD (330) 770 (390) Profit after Tax Dividend Profit after taxation transferred to income surplus account Statement of financial Position GHS'm GHS'm GHS'm 6,500 GHS m 6,400 Non-current assets Current Assets Inventory Debtors Cash 1.170 850 1,000 900 100 2,000 L280 Current Liabilities 2.150 CL.ISO 1.000 7.500 720 7.120 3.500 10% Debentures 4.000 Financed By: Capital And Surplus 4 Times 2:1 Additional Information; Average data for the business sector in which Bolstic Lad Operates is as follows: Gcaring (book Value of Debt book value of equity Interest Cover Current Ratio Inventory Days 90 Days Return before interest and Tax Capital Employed 25% Required: Analyse and Comment on the performance of the company based on the above sector average data. (25 Marks) Examiner: Richard Doe-Dartey Page 1 QUESTION FOUR A. Define conceptual framework and state any five (5) main usefulness of a conceptual framework B. Explain the three (3) main fundamental qualitative characteristics of financial statements State Five (5) benefits Ghana has derived from the adoption of the International Financial Reporting Standards (IFRS) D. State the main components of financial statement and Explain the five (5) key Elements of a financial statement (25 Marks)