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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 |
Please do step by step thank you.
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