(-use the provided statements in preparing your work.

You should have your calculations (numerator, denominator and answer) for your financial ratios,

MicroSystems Statement of Financial Position As at 30th June 2020 ASSETS Current assets Accounts receivable Less: Allowance for doubtful debts Prepaid rent Prepaid insurance Inventory Non-current assets Office Equipment Less: Accumulated depreciation Motor vehicles Less: Accumulated depreciation Fixtures & fittings Less: Accumulated depreciation Total assets LIABILITIES Current liabilities Bank overdraft Accrued expenses Interest payable Wages payable Accounts payable Non-current liabilities Bank loan Total liabilities Net Assets EQUITY Opening Capital Add: Prot Less: Drawings Total Equity 44,800 3,740 4,650 702 54,000 6,000 12,000 1,500 41,060 25,000 4,200 13 242 84,202 3,948 48,000 10 500 62 448 146,650 1,675 3,280 300 3,250 52 000 60,505 40.000 100.505 46.145 24,000 78,850 56 705 46.145 MicroSystems Statement of Financial Performance For the year ended 30th June 2020 Sales revenue 683,750 Less: Cost of sales 429,100 Gross Profit 254,650 Less: Operating expenses: Advertising 11,200 Cleaning expense 1,680 Doubtful debts expense 3,740 Depreciation expense 8,202 Electricity expense 25,080 Insurance expense 4,200 Maintenance 8: repairs 3,300 Rent expense 60,000 Telecommunications expense 10,400 Training expense 1,648 Wages expense 42,750 172,200 Operating prot 82,450 Interest expense 3,600 Net prot 78 850