In: Accounting
Income Statement
2018 |
2019 |
|
Sales |
$ 800,000 |
$950,000 |
Cost of Goods Sold |
350,000 |
600,000 |
Gross Margin |
450,000 |
350,000 |
Operating Expenses |
250,000 |
280,000 |
Net Income |
$200,000 |
$ 70,000 |
Liabilities |
2011 |
2012 |
Assets |
2011 |
2012 |
Share Capital |
200000 |
210000 |
Cash at bank |
105000 |
106000 |
Profit & loss A/c |
20000 |
23000 |
Debtors |
18000 |
28000 |
Creditors |
5000 |
8000 |
Stock |
20000 |
25000 |
Long term |
- |
10000 |
Plant & Machinery |
35000 |
45000 |
Short Term Loan |
15000 |
14000 |
Furniture |
60000 |
60000 |
Bills receivable |
2000 |
1000 |
|||
240000 |
265000 |
240000 |
265000 |
Liabilities |
Amount |
Assets |
Amount |
Share Capital |
800000 |
Machine |
800000 |
Profit & loss |
150000 |
Stock |
4500000 |
General Reserve |
50000 |
Debtors |
200000 |
15% Debentures |
700000 |
Cash in hand |
300000 |
Creditors |
200000 |
Land |
200000 |
Total |
1950,000 |
1950,000 |
Calculate
Note: Answers kindly in word or excel format for the 4 Questions
I | Comparative Income Statement with vertical analysis | ||||||
2,018 | % | 2,019 | % | ||||
Amount | Amount | ||||||
Sales | 8,00,000 | 100% | 9,50,000 | 100% | |||
Cost of Goods Sold | 3,50,000 | 44% | 6,00,000 | 63% | |||
Gross Margin | 4,50,000 | 56% | 3,50,000 | 37% | |||
Operating Expenses | 2,50,000 | 31% | 2,80,000 | 29% | |||
Net Income | 2,00,000 | 25% | 70,000 | 7% | |||
II | Changes in Working Capital | ||||||
2,011 | 2,012 | ||||||
Current Asset | |||||||
Cash at bank | 1,05,000 | 1,06,000 | |||||
Debtors | 18,000 | 28,000 | |||||
stock | 20,000 | 25,000 | |||||
Bills Receivable | 2,000 | 1,000 | |||||
1,45,000 | 1,60,000 | ||||||
Current Liability | |||||||
Creditors | 5,000 | 8,000 | |||||
Short term loan | 15,000 | 14,000 | |||||
20,000 | 22,000 | ||||||
Working Capital | 1,25,000 | 1,38,000 | |||||
(Current Asset-Current Liability) | |||||||
Changes in Working Capital | 13,000 | ||||||
(Increase of working capital of 13000) | |||||||
III | |||||||
31-Mar | |||||||
Current Asset | |||||||
Cash In Hand | 3,00,000 | ||||||
Debtors | 2,00,000 | ||||||
stock | 45,00,000 | ||||||
50,00,000 | |||||||
Current Liability | |||||||
Creditors | 2,00,000 | ||||||
2,00,000 | |||||||
1 | Current Asset Ratio | 25 | |||||
(Current Asset/Current Liability) | |||||||
2 | Quick Asset Ratio | 2.50 | |||||
(Current Asset-Inventory/Current Liability) | |||||||
3 | Inventory to Working Capital | 94% |
(4500000/4800000) X 100
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