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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