Financial Statement Analysis?

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talhaicmap

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PROBLEM:
The incomplete comparative financial statement data for XYZ Company
are given below:
December 31
ASSETS: 2008 2007
Rs. Rs.
• Cash 4,000 ?
• Accounts receivable 36,000 29,000
• Inventory ? 61,000
• Plant and equipment 210,000 180,000
• Accumulated depreciation (40,000) (30,000)
Total Assets 285,000 ?
LIABILITIES & STOCKHOLDER’S EQUITY:
• Accounts payable 45,000 39,000
• Common stock 90,000 ?
• Retain earnings ? 138,000
Total Liabilities & Stockholder’s equity ? 247,000
For 2008, the company reported net income as follows:
XYZ Company
Income Statement
For the year ended 31st December, 2008
Rs.
Sales 500,000
Less: Cost of goods sold ?
Gross margin 200,000
Less: Operating expenses ?
Net Income 20,000
Required:
A. Find the amount of cash for the year 2007
B. Calculate current ratio for the year 2007
C. Find the amount of inventory for the year 2008
D. Calculate the inventory turnover ratio for the year 2008
E. Calculate the amount of dividend declared and paid during the year
2008
F. Using the Indirect method prepare a Statement of Cash Flow for the
year ended 31st December 2008 by showing the following activities
separately:
1. Cash Flow From Operating Activities
2. Cash Flow From Investing Activities
3. Cash Flow From Financing Activities
Note: There were no sale of plant and equipment during the year.
 
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