STATEMENTS OF FINANCIAL POSITION $($OFI $2022)$

Revenue $288,123,714$

Cost of sales $(236,639,609)$

Gross profit $51,484,105$

Other income $4,108,847$

Total $55,592,952$

General and administrative expenses $(19,258,019)$

Selling and distribution expenses $(11,536,888)$

Finance costs $(267,190)$

Net impairment $($losses$)/$gains on financial assets $(346,999)$

Profit before taxation $24,183,856$

Income tax expense $(6,020,817)$

Profit after taxation $18,163,039$

Other comprehensive income Items that will be reclassified subsequently to profit or loss

Fair value changes of equity investments $200,086$

Total comprehensive income for the financial year $18,363,125$

Profit after taxation attributable to:

Owners of the Company $18,163,039$

Total comprehensive income attributable to:$-$

Owners of the Company $18,363,125$

Earnings per share $($sen$)$

Basic$/$Diluted $7\mathrm{.}57$

Assets

Non$-$current assets

Investment in subsidiaries $-$

Property, plant and equipment $107,595,037$

Right$-$of$-$use assets $17,628,214$

Investment properties $4,061,718$

Land held for future property development $961,569$

Investment securities $2,472,113$

Deferred tax assets $1,890,400$

Total $134,609,051$

Current assets

Inventories $42,804,738$

Right of return asset $1,108,288$

Trade receivables $58,212,175$

Other receivables, deposits and prepayments $5,801,871$

Current tax assets $305,605$

Short$-$term investments $98,736$

Cash and bank balances $39,272,087$

Total $147,603,500$

Total assets $282,212,551$

Equity and liabilities

Equity attributable to owners of the parent

Share capital $120,000,000$

Fair value reserve $2,099,675$

Retained earnings $98,720,211$

Total equity $220,819,886$

Non$-$current liabilities

Lease liabilities $499,716$

Loans and borrowings $3,592,836$

Deferred tax liabilities $12,682,500$

Total $16,775,052$

Current liabilities

Trade payables $24,249,317$

Refund liabilities $4,124,695$

Contract liabilities $1,965,466$

Other payables and accruals $10,026,105$

Lease liabilities $473,437$

Loans and borrowings $2,057,286$

Current tax liabilities $1,721,307$

Total $44,617,613$

Total liabilities $61,392,665$

Total equity and liabilities $282,212,551$

Calculate with detail working

Current Ratio:

$2\mathrm{.}1\mathrm{.}1$ Net Working Capital

NWC $=$ Current Assets $$ Current Liabilities

$2\mathrm{.}1\mathrm{.}2$ Current ratio

Current ratio $=$ Current Assets $/$ Current Liabilities

$2\mathrm{.}1\mathrm{.}3$ Quick ratio

Quick ratio measures the ability of the company to pay its short$-$term loans quickly.

Quick ratio $=($Current assets $$ Inventory$)/$ Current Liabilities

Asset Management Ratio

$2\mathrm{.}2\mathrm{.}1$ Account receivable turnover

Account receivable turnover measures the ability of the company to collect debts from its customers

ART $=$ Credit sales $/$ Accounts receivable

$2\mathrm{.}2\mathrm{.}2$ Average collection period

Average collection period shows the average days taken by the company to collect the account receivable.

ACP $=360/$ ART

$2\mathrm{.}2\mathrm{.}3$ Inventory turnover

Inventory turnover measures the efficiency of inventory management

IVT$=$ Cost of goods sold $/$ Inventory

$2\mathrm{.}2\mathrm{.}4$ Average inventory sales period

Average inventory sales period shows the number of days taken to make one round of inventory sales

AISP $=360/$ IVT

$2\mathrm{.}2\mathrm{.}5$ Non$-$current asset turnover

Non$-$current asset turnover shows the efficiency of the company in using its non$-$current assets to generate sales.

NCAT $=$ Sales $/$ Net non$-$current assets

$2\mathrm{.}2\mathrm{.}6$ Total asset turnover

Total asset turnover shows the efficiency of the company in using all its assets to generate sales.

TAT $=$ Sales $/$ Total assets