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The financial statement of TOP GUN Bhd for 2021 are given below: TOP GUN Bhd Statement of Financial Position as at 31 st December 2021

The financial statement of TOP GUN Bhd for 2021 are given below:
TOP GUN Bhd
Statement of Financial Position as at 31st December 2021 (RM000)
RM RM
Cash 330 Account Payable 630
Accounts receivable 2,725 Short term debt 38
Inventory 2,000 Account liabilities 725
Prepaid expenses 110 Notes payable 550
Plant & equipment 3,040 Long term debt 1,500
Less : Mortgage bond 284
Accumulated depreciation 935 Ordinary share 150
Additional Paid in capital 1,555
Retained earning 1,838
TOTAL ASSETS 7,270 TOTAL LIABILITIES & EQUITIES 7,270
TOP GUN Bhd
Statement Of Comprehensive Income for the Year
31st December 2021 (RM000)
RM
Net sales 11,730
Less : COGS 8,175
Gross profit 3,555
Less :
Administrative expenses 1,700
Depreciation 110
Research and development expenses 390
Earning before interest and taxes 1,355
Less : Interest expenses 105
Earning before taxes 1,250
Less : Income taxes 600
Net Income 650
Less : Dividend paid 70
Transferred to retained earning 580
Additional Notes:
*There are 1 millions shares outstanding for TOP GUN Bhd as at 31st December 2021 and the market price is RM13.
Questions:
(a) Using the statement of financial position for TOP GUN Bhd for 2021 calculate the following components:
i. Current Assets
ii. Fixed Assets
iii. Current Liabilities
iv. Long-term Liabilities
v. Shareholders Equity
(b) Compute the relevant financial ratios for TOP GUN Bhd for 2021.
i. Acid-Test Ratio / Quick ratio
ii. Average collection period
iii. Current Ratio
iv. Debt ratio
v. Fixed Asset Turnover
vi. Market to Book ratio
vii. Net Profit Margin
viii. Price to Earnings ratio
ix. Return On Equity
x. Times interest earned

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