### CARIBBEAN CREAM LIMITED #### Statement of Financial Position **As of February 28, 2021** *(Expressed in Jamaican dollars unless otherwise stated)* --- ##### NON-CURRENT ASSETS - **Property, plant, and equipment**: - 2021: $825,483,694 - 2020: $773,143,905 - **Right-of-use assets**: - 2021: $93,044,425 - 2020: $95,435,877 - **Total** non-current assets: - 2021: $918,528,119 - 2020: $868,579,782 --- ##### CURRENT ASSETS - **Cash and cash equivalents**: - 2021: $217,283,548 - 2020: $129,196,815 - **Trade and other receivables**: - 2021: $93,514,369 - 2020: $58,211,081 - **Tax recoverable**: - 2021: $0 - 2020: $779,621 - **Inventories**: - 2021: $162,352,192 - 2020: $117,774,685 - **Total** current assets: - 2021: $473,150,109 - 2020: $305,962,202 --- ##### CURRENT LIABILITIES - **Trade and other payables**: - 2021: $214,491,486 - 2020: $185,346,512 - **Taxation payable**: - 2021: $10,734,482 - 2020: $0 - **Current portion of lease liabilities**: - 2021: $17,456,686 - 2020: $19,539,121 - **Current portion of long-term loans**: - 2021: $6,977,778 - 2020: $27,441,951 - **Total** current liabilities: - 2021: $249,660,432 - 2020: $232,327,584 - **Net current assets** ## Caribbean Cream Limited ### Statement of Profit or Loss and Other Comprehensive Income #### Year ended February 28, 2021 *(Expressed in Jamaica dollars unless otherwise stated)* | | Notes | 2021 | 2020 | |----------------------------|-------|----------------|----------------| | **Gross operating revenue**| 13 | 1,870,188,069 | 1,706,358,991 | | **Cost of operating revenue** | 14 | (1,245,049,430)| (1,160,747,229)| | **Gross profit** | | 625,138,639 | 545,611,762 | | **Other income** | | - | 1,994,192 | | **Total income** | | 625,138,639 | 547,605,954 | | **Administrative, selling and distribution expenses:** | | | | | - *Administrative* | 14(b) | (427,856,374) | (395,323,017) | | - *Selling and distribution* | 14(c)| (60,656,587) | (68,301,238) | | **Total expenses** | | (488,512,961) | (463,624,255) | | **Impairment recovered/(loss) on trade receivables** | 7(i)| 1,804,151 | (2,673,129) | | **Operating profit before finance costs and taxation** | | 138,429,829 | 81,308,570 | | **Finance income - interest** | | 1,333,200 | 1,133,753 | | **Finance costs** | 15 | (21,262,694) | (20,270,767) | | **Profit before taxation** | | 118,500,335 | 62,171,556 | | **Taxation** | 16 | (17,819,728) | (7,602,157) | | **Profit, being total comprehensive income for the year** | | 100,680,607 | 54,569,399 | |
### CARIBBEAN CREAM LIMITED #### Statement of Financial Position **As of February 28, 2021** *(Expressed in Jamaican dollars unless otherwise stated)* --- ##### NON-CURRENT ASSETS - **Property, plant, and equipment**: - 2021: $825,483,694 - 2020: $773,143,905 - **Right-of-use assets**: - 2021: $93,044,425 - 2020: $95,435,877 - **Total** non-current assets: - 2021: $918,528,119 - 2020: $868,579,782 --- ##### CURRENT ASSETS - **Cash and cash equivalents**: - 2021: $217,283,548 - 2020: $129,196,815 - **Trade and other receivables**: - 2021: $93,514,369 - 2020: $58,211,081 - **Tax recoverable**: - 2021: $0 - 2020: $779,621 - **Inventories**: - 2021: $162,352,192 - 2020: $117,774,685 - **Total** current assets: - 2021: $473,150,109 - 2020: $305,962,202 --- ##### CURRENT LIABILITIES - **Trade and other payables**: - 2021: $214,491,486 - 2020: $185,346,512 - **Taxation payable**: - 2021: $10,734,482 - 2020: $0 - **Current portion of lease liabilities**: - 2021: $17,456,686 - 2020: $19,539,121 - **Current portion of long-term loans**: - 2021: $6,977,778 - 2020: $27,441,951 - **Total** current liabilities: - 2021: $249,660,432 - 2020: $232,327,584 - **Net current assets** ## Caribbean Cream Limited ### Statement of Profit or Loss and Other Comprehensive Income #### Year ended February 28, 2021 *(Expressed in Jamaica dollars unless otherwise stated)* | | Notes | 2021 | 2020 | |----------------------------|-------|----------------|----------------| | **Gross operating revenue**| 13 | 1,870,188,069 | 1,706,358,991 | | **Cost of operating revenue** | 14 | (1,245,049,430)| (1,160,747,229)| | **Gross profit** | | 625,138,639 | 545,611,762 | | **Other income** | | - | 1,994,192 | | **Total income** | | 625,138,639 | 547,605,954 | | **Administrative, selling and distribution expenses:** | | | | | - *Administrative* | 14(b) | (427,856,374) | (395,323,017) | | - *Selling and distribution* | 14(c)| (60,656,587) | (68,301,238) | | **Total expenses** | | (488,512,961) | (463,624,255) | | **Impairment recovered/(loss) on trade receivables** | 7(i)| 1,804,151 | (2,673,129) | | **Operating profit before finance costs and taxation** | | 138,429,829 | 81,308,570 | | **Finance income - interest** | | 1,333,200 | 1,133,753 | | **Finance costs** | 15 | (21,262,694) | (20,270,767) | | **Profit before taxation** | | 118,500,335 | 62,171,556 | | **Taxation** | 16 | (17,819,728) | (7,602,157) | | **Profit, being total comprehensive income for the year** | | 100,680,607 | 54,569,399 | |
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
G, Total Asset Turnover
|
Sales/ Total Assets
|
g. Asset Turnover
h. Comment on the results of your analytical work above. What strengths, weaknesses or developing problems do you see in yourselected company?
i. From a sustainable finance point of view, is your selected company a good one to invest in? Justify your answer based on yourresearch of the company.

Transcribed Image Text:### CARIBBEAN CREAM LIMITED
#### Statement of Financial Position
**As of February 28, 2021**
*(Expressed in Jamaican dollars unless otherwise stated)*
---
##### NON-CURRENT ASSETS
- **Property, plant, and equipment**:
- 2021: $825,483,694
- 2020: $773,143,905
- **Right-of-use assets**:
- 2021: $93,044,425
- 2020: $95,435,877
- **Total** non-current assets:
- 2021: $918,528,119
- 2020: $868,579,782
---
##### CURRENT ASSETS
- **Cash and cash equivalents**:
- 2021: $217,283,548
- 2020: $129,196,815
- **Trade and other receivables**:
- 2021: $93,514,369
- 2020: $58,211,081
- **Tax recoverable**:
- 2021: $0
- 2020: $779,621
- **Inventories**:
- 2021: $162,352,192
- 2020: $117,774,685
- **Total** current assets:
- 2021: $473,150,109
- 2020: $305,962,202
---
##### CURRENT LIABILITIES
- **Trade and other payables**:
- 2021: $214,491,486
- 2020: $185,346,512
- **Taxation payable**:
- 2021: $10,734,482
- 2020: $0
- **Current portion of lease liabilities**:
- 2021: $17,456,686
- 2020: $19,539,121
- **Current portion of long-term loans**:
- 2021: $6,977,778
- 2020: $27,441,951
- **Total** current liabilities:
- 2021: $249,660,432
- 2020: $232,327,584
- **Net current assets**

Transcribed Image Text:## Caribbean Cream Limited
### Statement of Profit or Loss and Other Comprehensive Income
#### Year ended February 28, 2021
*(Expressed in Jamaica dollars unless otherwise stated)*
| | Notes | 2021 | 2020 |
|----------------------------|-------|----------------|----------------|
| **Gross operating revenue**| 13 | 1,870,188,069 | 1,706,358,991 |
| **Cost of operating revenue** | 14 | (1,245,049,430)| (1,160,747,229)|
| **Gross profit** | | 625,138,639 | 545,611,762 |
| **Other income** | | - | 1,994,192 |
| **Total income** | | 625,138,639 | 547,605,954 |
| **Administrative, selling and distribution expenses:** | | | |
| - *Administrative* | 14(b) | (427,856,374) | (395,323,017) |
| - *Selling and distribution* | 14(c)| (60,656,587) | (68,301,238) |
| **Total expenses** | | (488,512,961) | (463,624,255) |
| **Impairment recovered/(loss) on trade receivables** | 7(i)| 1,804,151 | (2,673,129) |
| **Operating profit before finance costs and taxation** | | 138,429,829 | 81,308,570 |
| **Finance income - interest** | | 1,333,200 | 1,133,753 |
| **Finance costs** | 15 | (21,262,694) | (20,270,767) |
| **Profit before taxation** | | 118,500,335 | 62,171,556 |
| **Taxation** | 16 | (17,819,728) | (7,602,157) |
| **Profit, being total comprehensive income for the year** | | 100,680,607 | 54,569,399 |
|
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