P15.6 P15.6 (LO 2) The comparative statements of Beulah Limitcd are presented below.Compute numerous ratios.Beulah LimitedIncome StatementFor the Years Ended December 312019£420,0002020Net sales (all on account)£500,000Expenses254,000Cost of goods sold315,000114,800Selling and administrativeInterest expense120,8007,5006,500Income tax expense15,00020,000Total expenses390,300463,300£ 36,700£29,700Net incomeBeulah LimitedStatements of Financial PositionDecember 31Assets20202019£423,000£383,000Plant assets (nct)Current assctsInventory80,000Accounts receivable (net)85,00075,000Short-term investments18,000Cash15,00021,000Total current assets204,000Total assets£627,000£551,000Equity and LiabilitiesEquityShare capital-ordinary (£5 par)Retained carnings£150,000200,000£150,000223,000V00C LC07:0 O DownloadTotal cquity315,000000'OSENon-current liabilitiesBonds payable120,00080,000Current liabilitics122,000110,000Accounts payableIncome taxes payable12,000Total current liabilities134,000121,000Total liabilities201,000254.000Total cquity and liabilities£627.000£551,000Additional data:The ordinary shares recently sold at £19.50 per share.Problems 15-45InstructionsCompute the following ratios for 2020.h. Return on ordinary sharcholders' cquity.a. Current ratio.b. Acid-test ratio.i. Earnings per share.j. Price-carnings ratio.c. Accounts receivable turnover.d. Inventory turnover.k. Payout ratio.e. Profit margin.I. Debt to assets ratio.f. Asset turnover.m. Times interest carned.f. Asset turnover 0.85 timesg. Return on assets.PH OP15.7 (LO 2) Presented below is an incepue

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P15.6 (LO 2) The comparative statements of Beulah Limitcd are presented below. Beulah Limited Income Statement For the Years Ended December 31 2020 2019 Net sales (all on account) £500,000 £420,000 Expenses 254,000 Cost of goods sold Selling and administrative Interest expense Income tax expense 315,000 120,800 114,800 6,500 7.500 Total expenses 463,300 390,300 £ 36,700 £29,700 Net income Beulah Limited Statements of Financial Position December 31 2020 £423,000 Assets 2019 Plant assets (net) £383,000 Current assets Inventory 60,000 80,000 Accounts receivable (net) 18,000 75,000 Short-term investments Cash Total current assets 21,000 204,000 168,000 Total assets £627,000 £551,000 Equity and Liabilities Equity Share capital-ordinary (£5 par) Retained carnings £150,000 223,000 £150,000 200,000 000- CLLC 000 0J6

P15.6 (LO 2) The comparative statements of Beulah Limitcd are presented below. Beulah Limited Income Statement For the Years Ended December 31 2020 2019 Net sales (all on account) £500,000 £420,000 Expenses 254,000 Cost of goods sold Selling and administrative Interest expense Income tax expense 315,000 120,800 114,800 6,500 7.500 Total expenses 463,300 390,300 £ 36,700 £29,700 Net income Beulah Limited Statements of Financial Position December 31 2020 £423,000 Assets 2019 Plant assets (net) £383,000 Current assets Inventory 60,000 80,000 Accounts receivable (net) 18,000 75,000 Short-term investments Cash Total current assets 21,000 204,000 168,000 Total assets £627,000 £551,000 Equity and Liabilities Equity Share capital-ordinary (£5 par) Retained carnings £150,000 223,000 £150,000 200,000 000- CLLC 000 0J6

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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