Prepare a projected statement of comprehensive income for the year ended 31 December 2021 to determine the sales needed to produce a profit after tax that is 25% more than that for the year ending 31 December 2020. (Where applicable round of amounts to the nearest rand) INFORMATION: Calder Enterprises Statement of Comprehensive Income for the year ended 31 December 2020 Additional information: 1. Cost of sales is expected to be 60% of sales. 2. Operating expenses will increase by 4%. 3. Interest expense will increase to R120 000. 4. The tax rate will remain at 28% 3.2 Use the information from question 3.1 (not your solution) and calculate the following for the year ending 31 December 2020: 3.2.1 Gross margin 3.2.2 Net profit margin 3.2.3 Operating margin 3.2.4 Interest coverage
Prepare a projected statement of comprehensive income for the year ended 31 December 2021 to determine the sales needed to produce a profit after tax that is 25% more than that for the year ending 31 December 2020.
(Where applicable round of amounts to the nearest rand)
INFORMATION:
Calder Enterprises
Statement of Comprehensive Income for the year ended 31 December 2020
Additional information:
1. Cost of sales is expected to be 60% of sales.
2. Operating expenses will increase by 4%.
3. Interest expense will increase to R120 000.
4. The tax rate will remain at 28%
3.2 Use the information from question 3.1 (not your solution) and calculate the following for the year ending 31 December 2020:
3.2.1 Gross margin
3.2.2 Net profit margin
3.2.3 Operating margin
3.2.4 Interest coverage
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