Q7. Using the data below produce common size and indexed income statement.
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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