Data needed: SFP Asset section1. Cash 16.3%2. AR 6.3%3. Short term investment 0.2%4. Inventory 2.2%5. Prepaid expenses 0.4%6. PPE 74.7%Data needed: SFP Liabilities and OEsection.1. Current liab 16%2. Non-current liab 34.2%3. OE 49.9%Data needed: SCI1. COGS 38.6%2. Selling and admin exp 6.8%3. Interest exp 0.1%4. Income tax exp 0.5%5. Net income 54% Limay Store – SCI1. Which of the components takes the biggest part?20 / 282. How could this affect the operation of the business?

Cost of goods sold forms the highest part. It can be demonstrated in the following pie chart

Answered: Data needed: SCI 1. COGS 38.6% 2.…

Data needed: SCI 1. COGS 38.6% 2. Selling and admin exp 6.8% 3. Interest exp 0.1% 4. Income tax exp 0.5% 5. Net income 54%

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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Question

100%

Data needed: SFP Asset section
1. Cash 16.3%
2. AR 6.3%
3. Short term investment 0.2%
4. Inventory 2.2%
5. Prepaid expenses 0.4%
6. PPE 74.7%
Data needed: SFP Liabilities and OE
section.
1. Current liab 16%
2. Non-current liab 34.2%
3. OE 49.9%
Data needed: SCI
1. COGS 38.6%
2. Selling and admin exp 6.8%
3. Interest exp 0.1%
4. Income tax exp 0.5%
5. Net income 54%

Limay Store – SCI
1. Which of the components takes the biggest part?
20 / 28
2. How could this affect the operation of the business?

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