Subject: Principles of Finance

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Q\# 4 ABC-Corporation is registered with an authorized capital Rs. 5,000,000 divided into 500,000 shares of Rs. 10 each. Pre-closing trial balance of ABC-Corporation Ltd provides following financial information at the end of year December 31st, 2019: Additional data for Adjustment at December 31st, 2019: (i) 'Inventory at December 31st, 2019 valued Rs. 30,000 (ii) Accrued interest 15% on bonds payable and 5% on notes payable (iii) 35% corporate tax (iv) Declared 20% dividend on paid up capital. (v) Corporation allocated 15% depreciation on all tangible fixed assets Required (a) Prepare an income statement, statement of retain earnings and balance sheet. (b) Calculate all financial ratios (List already provided)