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You as Chief Financial Officer of Goodwill Plc, has compiled the following information and ratios from the Income Statement and Statement of Financial Affairs as
You as Chief Financial Officer of Goodwill Plc, has compiled the following information and ratios from the Income Statement and Statement of Financial Affairs as at 31.03.2016.
a). Selected balances from Income Statement and Statement of Financial Affairs :
K Million | |
Cash and marketable securities- | 100 |
Fixed Assets | 283.5 |
Sales | 1,000.00 |
Net Income | 50 |
b, Ratios
Quick Ratio 2:1 |
Current Ratio 3:1 |
Days sales outstanding (DSO) 40.55 days |
Return on Equity (ROE) 12% |
Note that Goodwill Plc had no preferred stock. It only had ordinary shares, current liabilities and long-term debt.
Required:
Find for Goodwill Plc, determine the following:
i. Accounts receivable
ii. Current liabilities
iii. Current Assets
iv. Total Assets
v. Return on assets(ROA)
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