SEMURNI IMPIAN CORPORATION BERHAD Statement of Financial Position as at December 31, Assets 2019 (RM) 2018 (RM) 2017 (RM) Cash 211.000 185,000 150,000 238.000 215.000 240,000 Account receivables Inventory 160,000 130,000 113,000 Prepaid expenses 46.000 33,000 30,000 Plant property and equipment 1,000,000 800,000 600.000 Accumulated depreciation (145,000) (102.000) (72,000) Total assets 1.510,000 1.261,000 1,061,000 Liabilities and Equity Account payable 210,000 200.000 165,000 Accrued expenses 100,900 91.900 66.000 Long term debt 440,000 250,000 200,000 Common stock RM0.50 par value 500,000 500,000 450,000 Paid-in capital 40.000 40,000 30,000 Retained earnings 219,100 179.100 150.000 Total liabilities and equity 1.510,000 1.261,000 1,061.000 SEMURNI IMPIAN CORPORATION BERHAD Statement of Financial Performance for Years Ending December 31, 2019 (RM) 2018(RM) 2017 (RM) Net sales 2,300,000 2,100,000 1,800,000 Cost of goods sold 1,000,000 1,050,000 1,032,000 Gross profit 1,300,000 1,050,000 768,000 Selling and marketing expenses 305,000 250,000 150,000 405,000 330,000 288,000 General and administration expenses Depreciation expenses 43,000 30,000 25,000 Earnings before interest and taxes 547,000 440,000 305,000 Interest expense 66,000 36,000 30.000 Earnings before taxes 481,000 404,000 275,000 Tax expense, 25% 120,250 101,000 68,750 Earnings after tax 360,750 303,000 206,250 SEMURNI IMPIAN CORPORATION BERHAD Comparative Statement of Financial Position as at December 31, Assets 2019 (RM) 2019 (96) 2018(RM) 2018(% ) Cash 26.000 14.05 35,000 23.33 Account receivables 23,000 10.70 (25000) (10.42) Inventory 30.000 23.08 17,000 15.04 Prepaid expenses 13,000 39.39 3,000 10.00 Plant property and equipment 200,000 25.00 200.000 33.33 43,000 42.16 30,000 41.67 Accumulated depreciation Total assets 249,000 19.75 200.000 18.85 Liabilities and Equity 10,000 5.00 35,000 21.21 Account payable Accrued expenses 9,000 9.79 25.900 39.24 Long term debt 190,000 76.00 50.000 25.00 Common stock, RM0.50 par value 0.00 50.000 11.11 Paid-in capital 0.00 10,000 33.33 Retained earnings 40,000 22.33 29,100 19.40 Total liabilities and equity 249,000 19.75 200 000 18.85 SEMURNI IMPIAN CORPORATION BERHAD Comparative Statement of Financial Performance for Years Ending December 31 2019 (RM) 2019 (%) 2018 (RM) %) 2018 (%) Net sales 200,000 9.52 300.000 16.67 Cost of goods sold (50,000) (4.76) 18,000 1.74 Gross profit 250.000 23.81 282.000 36.72 Selling and marketing expenses 55.000 22.00 100,000 66.67 General and administration expenses 75.000 22.73 42.000 14.58 Depreciation expenses 13.000 43.33 5.000 20.00 Earnings before interest and taxes 107,000 24.32 135,000 44.26 Interest expense 30,000 83.33 6,000 20.00 Earnings before taxes 77,000 19.06 129,000 46.91 Tax expense 25% 19.250 19.06 32,250 46.91 Earnings after tax 57.750 19.06 96,750 46.91 Using average value Calculate fixed assets turnover (FATO) in year 2019 and year 2018. Answer FATO 2019: 0.43, FATO 2018: 0.48 FATO 2019: 2.96, FATO 2018: 3.43 0 FATO 2019: 2.56, FATO 2018: 2.33 FATO 2019: 11.5. FATO 2018: 10.5
