Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
The following information for Neptune Ltd has been provided for the year ended 31 March 2022.
Balances as at 31 March 2022.
|
|
R |
|
|
Gross Profit |
12 500 000 |
|
|
Trade payables |
900 000 |
|
|
Land and Buildings |
11 500 000 |
|
|
Mortgage loan (repayable in full on 31 August 2022) |
2 750 000 |
|
|
Trading inventory |
8 750 000 |
|
|
Ordinary share capital (R30 per share) |
15 000 000 |
|
|
Earnings attributable to ordinary shareholders |
5 000 000 |
|
|
Trade receivables |
3 250 000 |
|
|
Fixed deposit (Maturing 28 February 2026) |
1 450 000 |
|
|
Interest on loan |
915 000 |
|
|
Bank (debit balance) |
180 000 |
|
Additional information:
- The mark up percentage has been correctly calculated as 25% for the year ended 31 March 2022.
- Trading inventory was calculated at R7 125 000 at 31 March 2021.
- The shares are currently trading at R50 per share and total dividends paid at 31 March 2022 amounted to R2 000 000.
REQUIRED:
Calculate the following ratios for the year ended 31 March 2022. Show all workings and round all final answers to two decimal places.
- Acid – test ratio
- Average inventory turnover
- Price – earnings
- Dividend yield percentage.
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