QUESTIONS (18 marks) (22 minutes) Commence this question on a new separate page Oak Furnishers, a manufacturing ently, has applied for a loan from a bank to finance the purchase of a factory building The bank manager has requested certain financial ratios as part of the formation required to determine whether Oak Fumaher is eligible for a loan H Mahogany, the owner of Oak Furnishers, requested you to the calculating these ratios He supplied you with the following information that pertains to Oak Furshers OAK FURNISHERS ABBREVIATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED QUESTIONS continued R 214 040 (53 280 160 760 (109760) 10000) 45 000 REQUIRED Note: All the formules must be given and round answers off to 2 decimals Calculate the following as 30 September 2011 45 000 (3) Revenue Cost of sales Gross profit Distrbution, administrative and other expenses Finance costs Profit for the year Other comprehensive income for the year ProfitTotal comprehensive income for the bar OAK FURNISHERS STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2011 ASSETS Non-current assets Property plant and equipment Current assets Inventores Trade recevables Prepayments Total assets 32 51 Gross profit percentage 52 Profit for the year percentage 53 Return on a profit for the year) 54 Interest Cover 55 Acd test 56 Solvency ratio 3 3 R 247 300 247 300 63 700 24000 36 500 NB: Show al calculations 311 000 214600 EQUITY AND LIABILITIES Equity Capital Total abilities Noncurrent abilities Long-ters borror Mortgage Current babies Trade and repayabies Other francais Bank Overran Totality and abilities 99 400 72 000 La 2009 24450 21700 2700 311000