Rara Sdn. BhdBalance Sheets31st December (in millions)20202019AssetsCurrent assetsCashRM460RM444Acount receivable (net)1,1881,190Inventories1,1322471,056225Other current assets3,0273,281Total current assets2,9153,128Property (net)Other assets5.5935,804Total assetsRM11.901RM11,847Liabilities and Stockholders' EquityCurrent liabilitiesRM3,3136,826RM3,1846,509Long-term liabilitiesStockholders' equity - common1.762RM11,9012.154RM11,847Total liabilities and stockholders' equityRara Sdn. BhdIncome StatementsFor the year ended 31st December (in millions)2020RM13,1982019Net salesRM12,397Cost of goods soldGross profitSelling and administrative expensesIncome from operations7.7505,4487,1085,2893.4723.2991,9901,976Interest expense233248Other (income) expense, net111,732Income before income taxes1,742Income tax expense503502Net incomeRM1,229RM1.240 Required:Analyse Rara's financial statement. Include the following ratios for 2020 and discuss your findings (2019values are provided for comparison):Current ratio (year 2019 - 0.92:1)Inventory turnover (year 2019 - 7.2 times)Debt to assets ratio (year 2019 - 82%)

Current ratio for 2020 = Current assets / current liabilities = 3027/3313 = 0.91:1 Current ratio for…

Rara Sdn. Bhd Balance Sheets 31st December (in millions) 2020 2019 Assets Current assets Cash RM460 RM444 1,188 1,132 247 3,027 3,281 5.593 RM11,901 Acount receivable (net) 1,190 Inventories 1,056 Other current assets 225 2,915 Total current assets Property (net) 3,128 5.804 RM11,847 Other assets Total assets Liabilities and Stockholders' Equity Current liabilities RM3,313 RM3,184 6,509 Long-term liabilities Stockholders' equity - common Total liabilities and stockholders' equity 6,826 1.762 RM11,901 2.154 RM11,847 Rara Sdn. Bhd Income Statements For the year ended 31st December (in millions) 2020 2019 RM12,397 Net sales Cost of goods sold Gross profit Selling and administrative expenses RM13,198 7.750 5,448 7.108 5,289 3,472 1,976 3.299 1,990 Income from operations Interest expense 233 248 Other (income) expense, net 11 1,732 1,742 502 RM1,240 Income before income taxes Income tax expense 503 RM1.229 Net income

Rara Sdn. Bhd Balance Sheets 31st December (in millions) 2020 2019 Assets Current assets Cash RM460 RM444 1,188 1,132 247 3,027 3,281 5.593 RM11,901 Acount receivable (net) 1,190 Inventories 1,056 Other current assets 225 2,915 Total current assets Property (net) 3,128 5.804 RM11,847 Other assets Total assets Liabilities and Stockholders' Equity Current liabilities RM3,313 RM3,184 6,509 Long-term liabilities Stockholders' equity - common Total liabilities and stockholders' equity 6,826 1.762 RM11,901 2.154 RM11,847 Rara Sdn. Bhd Income Statements For the year ended 31st December (in millions) 2020 2019 RM12,397 Net sales Cost of goods sold Gross profit Selling and administrative expenses RM13,198 7.750 5,448 7.108 5,289 3,472 1,976 3.299 1,990 Income from operations Interest expense 233 248 Other (income) expense, net 11 1,732 1,742 502 RM1,240 Income before income taxes Income tax expense 503 RM1.229 Net income

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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