Using the financial statements of Sultan Center in 2018, calculate the following ratios and interpret your results: current ratio calculations ........................ interpretation of results ....................... return on equity ratio calculations ....................... interpretation of results ...................... profit margin calculations ......................... interpretation of results ........................... debt to equity ratio calculations ............................ interpretation of results ............................ (financial statements listed below and also company website for more information)
Using the financial statements of Sultan Center in 2018, calculate the following ratios and interpret your results: current ratio calculations ........................ interpretation of results ....................... return on equity ratio calculations ....................... interpretation of results ...................... profit margin calculations ......................... interpretation of results ........................... debt to equity ratio calculations ............................ interpretation of results ............................ (financial statements listed below and also company website for more information)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 52PSA
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Question
Using the financial statements of Sultan Center in 2018, calculate the following ratios and interpret your results:
current ratio
calculations
........................
interpretation of results
.......................
- return on equity ratio
calculations
.......................
interpretation of results
......................
- profit margin
calculations
.........................
interpretation of results
...........................
- debt to equity ratio
calculations
............................
interpretation of results
............................
(financial statements listed below and also company website for more information)
https://cis.boursakuwait.com.kw/Portal/FData/610_BL_2019_9_E_293202094434260.pdf
Transcribed Image Text:SULTAN CENTER FOOD PRODUCTS COMPANY - K.S.C. (PUBLIC) AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED DECEMBER 31, 2019
(All amounts are in Kuwaiti Dinars)
Notes
2019
2018
Operating income
Sales
210,019,877
1,431,316
9,326,409
220,777,602
213,669,018
1,443,006
10,781,733
225,893,757
Contracting revenue
Service contract revenue
Operating cost
Cost of sales
174,539,210
1,110,261
10,862,874
186,512,345
21
171,325,247
Contracting cost
Service contract cost
8,791,790
180,117,037
Gross profit
40,660,565
39,381,412
Other operating income
General, administrative and selling expenses
Depreciation and amortization
Net provision for expected credit losses
Provisions for slow moving inventories
Provisions no longer required
Profit from operations
22
10, 11, 15
3-b
5- a
23
7,330,484
(33,488,780)
(7,745,161)
(371,577)
(145,215)
936,187
7,176,503
7,189,774
(37,409,522)
(4,298,093)
(541,943)
(204,081)
2,000,000
6,117,547
Group's share of results from associates
Changes in fair value of investment properties
Gain on sale of property, plant, equipment and intangible assets
Impairment loss
Other income - (net)
Net investment income
Gain on sale of investment properties
Finance charges
Profit for the year before contribution to National Labor Support
Tax (NLST)
4,828,043
1,174,741
1,921,439
(4,844,931)
588,907
91,059
45,000
(7,534,844)
8
2,953,152
125,743
1,842,179
(611,829)
9.
24
8 -a
39,842
135,195
(9,491,244)
2,169,541
2,386,961
National Labor Support Tax (NLST)
Profit for the year
(49,016)
2,337,945
2-x
2,169,541
Attributable to :
Parent company's shareholders
Non-controlling interests
Profit for the year
2,243,481
(73,940)
2,169,541
2,501,410
(163,465)
2,337,945
Fils
Fils
Basic earnings per share attributable to Shareholders of the Parent
Company
26
3,97
4.43
Transcribed Image Text:SULTAN CENTER FOOD PRODUCTS COMPANY - K.S.C. (PUBLIC) AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31, 2019
(All amounts are in Kuwaiti Dinars)
ASSETS
Notes
2019
2018
Current assets:
Cash and cash equivalent
Accounts receivable and other debit balances
Due from related parties
Inventories
6,498,096
13,748,985
8,873
16,205,480
36,461,434
6,489,606
42,951,040
13,586,937
11,391,544
3
4
15,673,176
40,651,657
6,489,606
47,141,263
Assets relating to discontinued operations
Total current assets
Non-current assets:
5,248,218
93,478,264
10,193,272
114,675,559
34,813,797
1,980,901
1,053,626
261,443,637
308,584,900
5,319,632
100,951,257
17,539,395
116,446,434
7
Financial assets at fair value through other comprehensive income
Investment in associates
Investment properties
Property, plant and equipment
Right of use assets
Goodwill
Intangible assets
Total non-current assets
Total assets
9
10
15
1,980,901
1,513,524
243,751,143
286,702,183
11
LIABILITIES AND EQUITY
Current liabilities:
Bank borrowings
Accounts payable and other credit balances
Due to related parties
Murabaha payable
Lease liabilities
38,237,214
85,225,504
207,450
7,792,000
5,120,293
136,582,461
6,788,174
143,370,635
56,623,027
90,723,574
207,450
11,129,500
12
13
4
14
15
Liabilities relating to discontinued operations
Total current liabilities
158,683,551
6,788,174
165,471,725
Non-current liabilities:
Bank borrowings
Other long term liabilities
Lease liabilities
Murabaha payable
Provision for end of service indemnity
Total non-current liabilities
Total liabilities
66,869,400
673,479
30,691,644
16,779,500
4,825,363
119,839,386
263,210,021
56,932,480
1,307,333
12
15
13,863,682
5,877,098
77,980,593
243,452,318
14
16
Equity:
Share capital
Treasury shares
Revaluation surplus
Effect of changes in other comprehensive loss of associates
Cumulative changes in fair value
Foreign currency translation adjustments
Accumulated losses
57,882,878
(2,593,571)
52,816,752
(20,650,913)
(28,982)
(2,051,818)
(42,155,767)
43,218,579
31,286
43,249,865
286,702,183
17
18
57,882,878
(2,593,571)
51,732,871
(20,484,600)
(32,953)
(2,191,244)
(38,895,848)
45,417,533
(42,654)
45,374,879
308,584,900
Equity attributable to Parent Company's shareholders
Non-controlling interests
Total equity
Total liabilities and equity
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