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Current assets
Cash and cash equivalents $1,645 $2,110
Accounts receivables (all trades) 4,100 3,675
Inventories 7,000 6,930
Total current assets 12,745 12,715
Non-current assets
Property, plant and equipment 17,190 15,330
Total non-current assets 17,190 15,330
Total assets $29,935 $28,045
Current liabilities
Payables $5,780 $5,990
Total current liabilities 5,780 5,990
Non-current liabilities
Interest-bearing liabilities 9,940 9,450
Total non-current liabilities 9,940 9,450
Total liabilities $15,720 $15,440
Equity
Share capital $7,700 $7,700
Retained earnings 6,515 4,905
Total equity $14,215 $12,605
Revenues (net sales) $55,000
Less: cost of sales 35,100
Gross profit 19,900
Less: Expenses
Selling and distribution expenses 7,100
Administrative expenses 4,970
Finance costs 1,560
Total expenses 13,630
Profit before income tax 6,270
Income tax expense 1,908
Share capital
Ordinary (7,200.000 shares)
Balance at start of period $7,200
Balance at end of period 7,200
Preference (250,000 shares)
Balance at start of period 500
Balance at end of period 500
Total share capital $7,700
Retained Earnings
Balance at start of period $4,905
Total income for the period 4,362
Dividends paid – ordinary (2,702)
Dividends paid – preference (50)
Balance at end of period $6,515
Additional information:
Payables include $5,620 (2014) and $5,730 (2013) trade accounts payable; the remainder is accrued expenses. Market prices of issued shares at year-end (2014): Ordinary $12; Preference $6.70.
Required:
Industry average
Apart from indicating the financial statements (s) involved, use appropriate phrases such as ‘increase total asset’, ‘decrease equity’, ‘increase income’, ‘decrease cash flow’ to describe the transaction concerned.
A. Net income | 4362 | 4362 |
B. Average total assets | (29935+28045)/2 | 28990 |
A. Net income available to equity shareholders | 4362-50 | 4312 |
B. Shareholder’s Equity | 7700+6515 | 14215 |
A. Net income | 4362 | 4362 |
A. Profit available after preference dividend | 4362-50 | 4312 |
A. Cash dividend per share | 2702/7200 | 0.375 |
B. Market value per share | 12 | 12 |
A. Quick Assets | 12,745-7,000 | 5,745 |
B. Average accounts receivables | (4100+3675)/2 | 3887.5 |
B. Average inventory | (7000+6930)/2 | 6965 |
A. Earnings before interest and tax (EBIT) | 4362+1908+1560 | 7830 |
B. Average Total Assets | (28,045+29,935)/2 | 28,990 |
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