Footfall Manufacturing Ltd. reports the following financial information at the end of the current year: Net Sales $100,000 Debtor's turnover ratio (based on net sales) | 2 Inventory turnover ratio Fixed assets turnover ratio 1.25 0.8 Debt to assets ratio 0.6 Net profit margin Gross profit margin 5% 25% 2% Return on investment Use the given information to fill out the templates for income statement and balance sheet given below:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Balance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX (n $)
Liabilities
Amount
Assets
Amount
Equity
Long term debt
Short term debt
Net fixed assets
50,000
Inventory
Debtors
Cash
Total
Total
Transcribed Image Text:Balance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX (n $) Liabilities Amount Assets Amount Equity Long term debt Short term debt Net fixed assets 50,000 Inventory Debtors Cash Total Total
Footfall Manufacturing Ltd. reports the following financial information at the end
of the current year
Net Sales
$100,000
Debtor's turnover ratio (based on net sales) 2
Inventory turnover ratio
1.25
Fixed assets turnover ratio
0.8
Debt to assets ratio
0.6
Net profit margin
Gross profit margin
5%
25%
Return on investment
2%
Use the given information to fill out the templates for income statement and
balance sheet given below.
Income Statement of FdfalOfanufacturing Ltd. for the year ending December
31, 20XX
(in S)
Sales
100,000
Cost of goods sold
Gross profit
Other expenses
Earnings before tax
Таx @ 50%
Earnings after tax
Transcribed Image Text:Footfall Manufacturing Ltd. reports the following financial information at the end of the current year Net Sales $100,000 Debtor's turnover ratio (based on net sales) 2 Inventory turnover ratio 1.25 Fixed assets turnover ratio 0.8 Debt to assets ratio 0.6 Net profit margin Gross profit margin 5% 25% Return on investment 2% Use the given information to fill out the templates for income statement and balance sheet given below. Income Statement of FdfalOfanufacturing Ltd. for the year ending December 31, 20XX (in S) Sales 100,000 Cost of goods sold Gross profit Other expenses Earnings before tax Таx @ 50% Earnings after tax
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