Question
The financial manager of Benno Group is required to prepare the report of the companys performance in few years. BENNO GROUP Statement of Financial Performance
The financial manager of Benno Group is required to prepare the report of the companys performance in few years.
BENNO GROUP Statement of Financial Performance for Years Ending December 31.
| 2020(RM) | 2019(RM) | 2018(RM) |
Net Sales | 675,000 | 600,000 | 565,400 |
Cost of Goods Sold | 415,250 | 358,430 | 300,100 |
Gross Profit | 259,750 | 241,570 | 265,300 |
Selling Expenses | 43,200 | 38,530 | 33,500 |
Administrative Expenses | 41,100 | 36,580 | 33,500 |
Operating Income | 175,450 | 166,460 | 198,300 |
Interest | 11,000 | 10,060 | 8,000 |
Earnings before tax | 164,450 | 156,400 | 190,300 |
Tax (28%) | 46,046 | 43,792 | 53,284 |
Earnings after tax | 118,404 | 112,608 | 137,016 |
Additional information:
- Net fixed assets and total assets are RM520,000 and RM870,000 respectively.
- Prepare a year-to-year change income statement for 2020 with 2019 as base year for Benno Group.
- Evaluate the companys performances in managing the assets and profitability of the company for 2020 relative to 2019.
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