Calculate the Gearing Ratio and Interest Coverage Ratio for 2021 and 2022 Table 1: Jets Ltd Statement of Financial Position as at 30 June 20222022Current AssetsCash and cash equivalentTrade receivablesInventoryTotal Current assetsNon-Current AssetsTotal AssetsCurrent liabilitiesTrade payablesTax payableTotal current liabilitiesNon-Current LiabilitiesTotal LiabilitiesShare capital and reservesTotal liabilities I share capital andreserves$m20702,2402,33011,40013,7303,0203153,3355,3508,6855,04513,7302021$m220741,9002,19412,00014,1942,7004003,1006,0949,1945,00014.194 Table 2: Jets Ltd Statement of Comprehensive Income for the Year ending 30 June 202220222021$m$mRevenueCost of salesGross profitOperating expensesOperating profitFinance incomeFinance costsProfit on ordinary activities beforetaxationIncome taxProfit for the year18,080(11,336)6,744(5,044)1,70030(580)1,150(345)80518,000(11,026)6,974(4,574)2,400100(400)2,100(630)1,470

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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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