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Footfall Manufacturing Ltd. reports the following financial information at the end of the current year: Net Sales $100,000 Debtor's turnover ratio (based on net sales) Inventory turnover ratio Fixed assets turnover ratio Debt to assets ratio 2 1.25 0.8 0.6 Net profit margin Gross profit margin 5% 25% Roturn on invoatmont 29%

Footfall Manufacturing Ltd. reports the following financial information at the end of the current year: Net Sales $100,000 Debtor's turnover ratio (based on net sales) Inventory turnover ratio Fixed assets turnover ratio Debt to assets ratio 2 1.25 0.8 0.6 Net profit margin Gross profit margin 5% 25% Roturn on invoatmont 29%

FINANCIAL ACCOUNTING
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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Footfall Manufacturing Ltd. reports the following financial information at the end of the current year: | Net Sales Debtor's turnover ratio (based on net sales) Inventory turnover ratio | Fixed assets turnover ratio Debt to assets ratio |Net profit margin | Gross profit margin Return on investment $100,000 2 1.25 0.8 0.6 5% 25% 2% Use the given information to fill out the templates for income statement and balance sheet given below: Income Statement of Footfall Manufacturing Ltd. for the year ending December 31, 20XX (in S) 100,000 Sales Cost of goods sold Gross profit Other expenses Earnings before tax Tax @50% Earnings after tax Balance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX (in S) Liabilities Equity Long term debt Short term debt Amount Assets Amount Net fixed assets 50,000 Inventory Debtors Cash TOTAL ТОTAL
Transcribed Image Text:Footfall Manufacturing Ltd. reports the following financial information at the end of the current year: | Net Sales Debtor's turnover ratio (based on net sales) Inventory turnover ratio | Fixed assets turnover ratio Debt to assets ratio |Net profit margin | Gross profit margin Return on investment $100,000 2 1.25 0.8 0.6 5% 25% 2% Use the given information to fill out the templates for income statement and balance sheet given below: Income Statement of Footfall Manufacturing Ltd. for the year ending December 31, 20XX (in S) 100,000 Sales Cost of goods sold Gross profit Other expenses Earnings before tax Tax @50% Earnings after tax Balance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX (in S) Liabilities Equity Long term debt Short term debt Amount Assets Amount Net fixed assets 50,000 Inventory Debtors Cash TOTAL ТОTAL
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