29 Jun uestion Q7. Using the data below produce common size and indexed income statement
uestion
Q7. Using the data below produce common size and indexed income statement.
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Ans6
Q8. Prepare common size income statement for Pellum Company, for the two years shown below by converting dollar amounts into percentage. Sales will be 100% for each year and other items will be expressed as a percentage of sales.
2005
2004
(Rs. 000)
(Rs. 000)
Sales
500
400
Cost of goods sold
330
268
Gross profit
170
132
Operating expenses
130
116
Net income
40
16
Q9.
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During the year the company earned a gross profit of $1,116,000 on sales of $2,950,000. Accounts receivable, inventory, and plant assets remained almost constant in amount throughout the year. Compute the following:
a) Current Ratio
b) Quick Ratio
c) Net Working Capital
d) Debt Ratio
e) Account Receivable Turnover (all sales were on credit)
f) Inventory Turnover
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