SEDAP Confectionary Industries is in the midst of evaluating its financial performance for the year 2018. The Finance and Accounts department had gathered the following financial data and Income Statement which extracted from the financial report for the year 2018.

Ratio

Profit Margin

12.675%

Return on Equity

15%

Quick Ratio

1.2

Return on Total Assets

10%

Fixed Asset Turnover

1.6

Current Ratio

2

Days Sales Outstanding

45

SEDAP Confectionary Industries

Income Statement

For the year ended 31 December 2018

RM

Sales (All Credit)

20,000

Cost of goods sold

10,000

Operating expenses

6,000

Interest expense

100

Taxes

1,365

Net income

2,535

Based on the information provided above, you are required to prepare the Statement of Financial Position for SEDAP Confectionary Industries using the table shown below. All the relevant workings to prepare the Statement of Financial Position are to be shown.

[25 Marks]

Statement of Financial Position

For the year ended 31 December 2018

RM

Cash

__________________

Accounts receivable

__________________

Inventory

__________________

Net fixed assets

__________________

Total assets

__________________

Accounts payable

5,000

Short-term notes payable

1,425

Long-term debt

___________________

Common stock

5,000

Retained earnings

11,900

Total Liabilities and equity

25,350