QUESTION 1-Analysis of Financial Statement and Cash Flow The balanec sheet and income statement for the Changlun Company are as folow: Balance Sheet (RM000) RM Cash 500 Account receivable 2,000 1,000 3,500 Inventories Current assets Net fixed assets 4,500 Total assets 8,000 Account payabke Accrued expenses Shorts-term notes payable Current liabilities Long-term debt Owners' equity Total kabilities and owner's equity 1,100 600 300 2,000 2,000 4,000 8,000 Income Statement (RM'000) RM Net sales (all credit) Cost of good sold Gross profit Operating expenses Operating income Interest expenses Earning before taxes Income taxes (4076) Net income 8,000 (3,300) 4,700 (3000) 1,700 (367) (1,333) (533) 800 'Indudes depreciation expene of RM500 for the yoar Calculate the folowing ratios: Current ratio Debt Ratio Time interest carned Inventory turnover Average collection period Fixed assets turnover

QUESTION 1-Analysis of Financial Statement and Cash Flow The balanec sheet and income statement for the Changlun Company are as folow: Balance Sheet (RM000) RM Cash 500 Account receivable 2,000 1,000 3,500 Inventories Current assets Net fixed assets 4,500 Total assets 8,000 Account payabke Accrued expenses Shorts-term notes payable Current liabilities Long-term debt Owners' equity Total kabilities and owner's equity 1,100 600 300 2,000 2,000 4,000 8,000 Income Statement (RM'000) RM Net sales (all credit) Cost of good sold Gross profit Operating expenses Operating income Interest expenses Earning before taxes Income taxes (4076) Net income 8,000 (3,300) 4,700 (3000) 1,700 (367) (1,333) (533) 800 'Indudes depreciation expene of RM500 for the yoar Calculate the folowing ratios: Current ratio Debt Ratio Time interest carned Inventory turnover Average collection period Fixed assets turnover

Name: QUESTION 1- Analysis of Financial Statement and Cash FlowThe balance
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Description: QUESTION 1- Analysis of Financial Statement and Cash FlowThe balance sheet and income statement for the Changlun Company are as folow:Balance Sheet (RM'000)RMCash500Account receivable2,0001,000InventoriesCurrent assetsNet fixed assets3,5004,500Total

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 16MCQ

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QUESTION 1 – Analysis of Financial Statement and Cash FlowThe balance sheet and income statement for the Changlun Company are as follow: Balance Sheet (RM’000) RMCash500Account receivable2,000Inventories1,000Current assets3,500Net fixed assets4,500Total assets8,000Account payable1,100Accrued expenses600Shorts-term notes payable300Current liabilities2,000Long-term debt2,000Owners’ equity4,000Total liabilities and owner’s equity8,000Income Statement (RM’000) RMNet sales (all credit)8,000Cost of good sold(3,300)Gross profit4,700Operating expenses1(3,000)Operating income1,700Interest expenses(367)Earning before taxes(1,333)Income taxes (40%)(533)Net income8001 Includes depreciation expense of RM500 for the yearCalculate the following ratios:1. Current ratio2. Debt Ratio3. Time interest earned4. Average collection period5. Inventory turnover6. Fixed assets turnover7. Total asset turnover8. Gross profit margin9. Operating profit margin10. Return on equity11. Operating income return on…
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