Prepare a common size statement of profit and loss and balance sheet.
Transcribed Image Text:Sunrise Company Limited
Statement of Profit and LOS
For the year ended March 31
2018 (Rs)
2019 (Rs)
1,500,000
1,050,000
Net Sales
1,275,000
1,025,000
Cost of goods sold
Gross Profit
450,000
195,000
255,000
45,000
250,000
175,000
Selling and administrative expenses
Profit before interest and tax
75,000
Interest expense
Profit before tax
22,500
52,500
210,000
100,000
110,000
22,500
30,000
Income tax
Profit after tax
Additional Information:
2019 (Rs)
2018 (Rs)
Market price per share
Dividend per share
Earnings per share
2,200.00
25.00
300.00
12.50
55.00
15.00
On March 31, 2017 the company had inventories of Rs 32,500, receivables of Rs 50,000, total
assets of Rs 675,000 and equity of Rs 622,500.
Transcribed Image Text:Sunrise Company's balance sheet on March 31, 2019 and 2018 and statement of profit and
loss for the year ended March 31, 2019 and 2018 are as follows:
Sunrise Company Limited
Balance Sheet, March 31
Description
2019 (Rs)
2018 (Rs)
Assets
Non-current assets
Property, plant and equipment
675,000
650,000
25,000
Non-current investments
25,000
Current assets
Inventories
Trade receivables
Cash and cash equivalents
500
75,000
67,500
50,000
62,500
Other current assets
Total assets
Equity and Liabilities
Equity
Equity share capital
Reserves and Surplus
Non-current liabilities
Long Term Borrowings
Current liabilities
Trade payables
Total equity and liabilities
37,500
917,500
7,500
835,000
500,000
500,000
187,500
127,500
142,500
125,000
87,500
82,500
835,000
917,500
Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
