From the following statements, calculate the various ratios:

From the following statements, calculate the various ratios:

Condensed Income Statement of Juliet & Company for year ending March 31, 2011

 

 

(in Rs.‘000)

 

Rs.

% sales

Net Sales

600

100.0

Less: Cost of goods sold

360

60.0

Gross Profit

240

40.0

Operating expenses

156

26.0

Operating Profit

84

14.0

Interest

8

1.3

Income before tax

76

12.7

Income tax provision

38

6.4

Net Income after tax for the year

38

6.3

Balance Sheet of Julient & Co.

(as on March 31, 2010 and 2011)  

(in Rs.‘000) 

March 31, 2010

March 31, 2011

Assets:  

Current Assets:  

Cash

60

80

Account receivables (net)

60

60

Inventories

100

120

Pre-paid expenses

20

20

Total Current Assets

240

280

Fixed Assets:  

Land

60

60

Building and structures

240

240

Less: Accumulated depreciation

120

140

Net Buildings structures

120

100

Total Fixed Assets

180

160

Other Assets:  

Goodwill and patents

20

Total Assets

420

460

Liabilities and Equities  

Current Liabilities:  

Accounts payable

50

60

Wages and taxes outstanding

30

20

Income-tax payable

20

40

Total Current Liabilities

100

120

Long-term Liabilities:  

10% Mortgage Debentures

80

80

Total Liabilities

180

200

Shareholders? Equity:  

Share capital (6,000 shares of  

Rs.20 each fully paid)

120

120

Retained earnings

120

140

Total Shareholders? Equity

240

260

Total Liabilities and Equities

420

460

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