Question 3Footfall Manufacturing Ltd. reports the following financial information at the end of the current year: net sale $100 000 debtor's turnover ration (based on net sales) 2 inventory turnover ration 1.25 fixed assets turnover ratio 0.8 debt to assets ratio 0.6 net profit margin 5% gross profit margin 25% return on investment 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 $) sales 100,000 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 $) liabilities amount assets amount equity net fixed assets long term debt 50, 000 inventory short term debt debtors cash total total
Question 3
Footfall Manufacturing Ltd. reports the following financial
information at the end of the current year:
|
net sale |
$100 000 |
|
debtor's turnover ration (based on net sales) |
2 |
|
inventory turnover ration |
1.25 |
|
fixed assets turnover ratio |
0.8 |
|
debt to assets ratio |
0.6 |
|
net profit margin |
5% |
|
gross profit margin |
25% |
|
return on investment |
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 $)
|
sales |
100,000 |
|
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 $)
|
liabilities |
amount |
assets |
amount |
|
equity |
|
net fixed assets |
|
|
long term debt |
50, 000 |
inventory |
|
|
short term debt |
|
debtors |
|
|
|
|
cash |
|
|
total |
|
total |
|
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