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Summary financial information for ABC Co is given below, covering the last two years Current Year Previous Year Income Statement Extract TZS 0 0 0

Summary financial information for ABC Co is given below, covering the last two years Current Year Previous Year Income Statement Extract TZS 000 TZS 000 Revenue 74,52168,000 Cost of sales 28,25625,772 Salaries and wages 20,02719,562 Other costs 11,4899,160 PBIT 14,74913,506 Interest 1,5531,863 Tax 4,3473,726 PAIT 8,8497,917 Dividend payable 4,8003,100 Current Year Previous Year Income Statement Extract TZS 000 TZS 000 Shareholders funds 39,90035,087 Long term debt 14,00017,500 Other information Number of shares issued 00014,00014,000 P/E ratio (average for the year) ABC Co 1413 Industry 15.215 Required: (a) Using profitability, debt, and shareholders investment ratios, discuss the performance of ABC Co over the last two years. (b) Explain why accounting profits may not be the best measure of a companys achievements. (c) Discuss how good corporate governance procedures can help to manage und

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