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common size and indexed income statement.

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.

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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