19 Aug The following details concern the busines
The following details concern the business of Helena Beauty, who is worried about the profitability and financial situation of her business at 30 June 2018, especially since the bank is requiring repayment of its overdraft.
30 June 2017 30 June 2018
Sales (credit) $60,000 $90,000
Cost of sales 39,000 63,000
All other expenses 12,000 21,000
Cash at Bank 12,000 (18,000)
Inventory 18,000 33,000
Accounts Receivable (net) 12,000 30,000
Non-current assets (net) 24,000 48,000
Accounts Payable 6,000 9,000
Non-current liabilities nil 12,000
Helena Beauty, Capital 60,000 72,000
Inventory at 1 July 2016 was $15,000
Accounts receivable at 1 July 2016 were $10,000
Helena Beauty, Capital as at 30 June 2016, $56,000
a) Calculate the following ratios for 2017 and 2018 (1.5 marks each)
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