EXTRACT FROM STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 SEPTEMBER 2024 Sales Cost of sales Gross profit Operating expenses Interest expense Interest income Profit before tax Income tax Profit for the year ADDITIONALINFORMATION: ' 80% of sales and all purchases are made on credit. 170 600 shares were in issue during the year ended 30 September 2024. The market price per share was R23 on 30 September 2024. R 5 600 000 (3 536 000) 2 064 000 (1 064 000) 1 000 000 (216 000) 80 000 864 000 (260 000) 604 000 QUESTION 2 (20 MARKS) The financial statements of DKT Enterprises provided below relate to the year ended 30 September 2024. STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024 2024 2023 R R ASSETS Non-current Assets Property, plant and equipment (cost) Accumulated depreciation Long-term investment 3 360 000 2 120 000 3 320 000 2 160 000 (840 000) 880 000 (640 000) 600 000 Current Assets Inventory 4 080 000 3 800 000 1 400 000 1 720 000 Accounts receivable 1 640 000 1 200 000 Income tax paid in advance 40 000 Cash 1 000 000 880 000 7 440 000 5 920 000 EQUITY AND LIABILITIES Equity 5 000 000 3 544 000 Ordinary share capital 3 412 000 2 000 000 Retained income 1 588 000 1 544 000 Non-current liabilities 1 800 000 2 000 000 Long-term borrowing 1 800 000 2 000 000 Current liabilities 640 000 376 000 Accounts payable 384 000 112 000 Dividends payable 256 000 192 000 Income tax payable 72 000 7 440 000 5 920 000
Use the financial statement of DKT Enterprise provided above to calculate the ratio for 2024 that reflects each of the following conditions (where applicable, round off answers to two decimal places.):
1. The percentage of DKT Enterprises' revenue that remained after accounting for the cost of goods sold.
2. The percentage of DKT Enterprises' revenue that remained after all expenses, including operating costs, interest, and taxes, have been deducted.
3. The extent to which DKT Enterprises' short-term liabilities, were covered by assets that could be quickly converted into cash during the year.
4. The ratio of DKT Enterprises' liquid assets to its current liabilities, indicating the company's ability to meet short-term obligations without relying on inventory.
5. The percentage of the profit DKT Enterprises generated from its total assets during the year, reflecting how efficiently it utillises its asset base to generate earnings.
6. The percentage of the profit for the year relative to the capital invested by the owners of DKT Enterprises.
7. The percentage of profit generated from the capital employed by DKT Enterprises, including equity and borrowed funds.
8. The frequency with which DKT Enterprises converted its finished goods inventory into sales during the year, calculated using average inventory.
9. The average time DKT Enterprises took to settle its outstanding obligations with suppliers during the year, reflecting how efficiently it managed its short-term liabilities (use average accounts payable for this calculation). Note: Credit = cost of sale + closing inventory - opening inventory.
10. The average time DKT Enterprises took to collect payments from its customers during the year, showing how quickly it converted receivables into cash (use average accounts receivable for this calculation).
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