Answer the whole page TASK Two:The draft income statements of BAFS Limited were presented below:Income statement for the years ended 31 March2020$2019Sales900.000600,000300,000Less: Cost of goods soldGross profitLess: Operating expensesNet profit400,000500.000300,000200,000400,000100,000100,0001. Calculate the gross profit ratio for 2019 and 2020 respectively.2. Suggest two reasons why the gross profit ratio had been decreased.3. Calculate the net profit ratio for 2019 and 2020 respectively.4. Comment the profitability of BAFS Limited in 2020.

I am answering the first three sub-parts of the question as per bartleby guidelines. Please…

1. Calculate the gross profit ratio for 2019 and 2020 respectively. 2. Suggest two reasons why the gross profit ratio had been decreased. 3. Calculate the net profit ratio for 2019 and 2020 respectively.

1. Calculate the gross profit ratio for 2019 and 2020 respectively. 2. Suggest two reasons why the gross profit ratio had been decreased. 3. Calculate the net profit ratio for 2019 and 2020 respectively.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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TASK Two:
The draft income statements of BAFS Limited were presented below:
Income statement for the years ended 31 March
2020
$
2019
Sales
900.000
600,000
300,000
Less: Cost of goods sold
Gross profit
Less: Operating expenses
Net profit
400,000
500.000
300,000
200,000
400,000
100,000
100,000
1. Calculate the gross profit ratio for 2019 and 2020 respectively.
2. Suggest two reasons why the gross profit ratio had been decreased.
3. Calculate the net profit ratio for 2019 and 2020 respectively.
4. Comment the profitability of BAFS Limited in 2020.

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