(Profitability Ratio) What is the Price Earnings Ratio in 2019?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

(Profitability Ratio)
What is the Price Earnings Ratio in 2019

FRUITAS HOLDINGS, INC.
(A Subsidiary of LUSH PROPERTIES, INC.)
AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Years Ended December 31
Number of Shares
Amount
Note
2020
2019
2018
2020
2019
2018
Capital Stock
Balance at beginning of year
17
1,600,000,000
533,680,000
P160,000,000
53,368,000
2,133,680,000
1,600,000,000
P213,368,000
P160,000,000
Issuances
Balance at end of year
2,133,680,000
2,133,680.000
1.600.000.000
213,368,000
213,368,000
160,000,000
Additional Paid-in Capital
Balance at beginning of year
17
7,044 83,ררר
Issuances
777,837,044
Balance at end of year
7,044ו,777
777,837,044
Retained Earnings
Balance at beginning of year
Net income (loss)
266,111,391
(48,068,054)
(21,336,800)
196,706,537
158,584,199
103,781,012
121,527,192
100,303,507
Cash dividends
17
(14,000,00
(45,500,320)
Balance at end of year
266,111,391
158,584,199
Years Ended December 31
Amount
Note
2020
2019
2018
Other Equity Reserves
Balance at beginning of year
Acquisition of a subsidiary
Balance at end of year
4.
55,192,582
(3,939,803)
55,192,582
55,192,582
51,252,779
55,192,582
55,192,582
Other Comprehensive Loss
Balance at beginning of year
16
(914,455)
(46,288)
(46,288)
Remeasurement loss on net retirement
benefits liability, net of deferred tax
Balance at end of year
(868,167)
(914,455)
(914,455)
(46,288)
P1,238,249,905
P1,311,594,562
P373,730,493
See accompanying Notes to Consolidated Financial Statements.
Capital Stock
This account consists of:
Number of Shares
Amount
2020
2019
2018
2020
2019
2018
Authorized Capital Stock
Common - P0.10 par value
Balance at beginning of year
5,000,000,000
(300,000,000)
4,700,000,000
4,700,000,000
4,700,000,000
P470,000,000
P470,000,000
P500,000,000
(30,000,000)
Reclassification to preferred stock
Balance at end of year
4,700,000,000
4,700,000,000
470,000,000
470,000,000
470,000,000
Preferred - PO.01 par value
Balance at beginning of year
3,000,000,000
3,000,000,000
30,000,000
30,000,000
3,000,000,000
3,000,000,000
7,700,000,000
Reclassification from common stock
30,000,000
3,000,000,000
7,700,000,000
30,000,000
P500,000,000
Balance at end of year
30,000,000
P500,000,000
3,000,000,000
30,000,000
7,700,000,000
P500,000,000
Issued and Outstanding- Common
Balance at beginning of year
P160,000,000
1,600,000,000
533,680,000
2,133,680,000
1,600,000,000
P213,368,000
P160,000,000
Issuances
53,368,000
160,000,000
P160,000,000
Balance at end of year
2,133,680,000
2,133,680,000
1,600,000,000
213,368,000
213,368,000
P213,368,000
P213,368,000
Transcribed Image Text:FRUITAS HOLDINGS, INC. (A Subsidiary of LUSH PROPERTIES, INC.) AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY Years Ended December 31 Number of Shares Amount Note 2020 2019 2018 2020 2019 2018 Capital Stock Balance at beginning of year 17 1,600,000,000 533,680,000 P160,000,000 53,368,000 2,133,680,000 1,600,000,000 P213,368,000 P160,000,000 Issuances Balance at end of year 2,133,680,000 2,133,680.000 1.600.000.000 213,368,000 213,368,000 160,000,000 Additional Paid-in Capital Balance at beginning of year 17 7,044 83,ררר Issuances 777,837,044 Balance at end of year 7,044ו,777 777,837,044 Retained Earnings Balance at beginning of year Net income (loss) 266,111,391 (48,068,054) (21,336,800) 196,706,537 158,584,199 103,781,012 121,527,192 100,303,507 Cash dividends 17 (14,000,00 (45,500,320) Balance at end of year 266,111,391 158,584,199 Years Ended December 31 Amount Note 2020 2019 2018 Other Equity Reserves Balance at beginning of year Acquisition of a subsidiary Balance at end of year 4. 55,192,582 (3,939,803) 55,192,582 55,192,582 51,252,779 55,192,582 55,192,582 Other Comprehensive Loss Balance at beginning of year 16 (914,455) (46,288) (46,288) Remeasurement loss on net retirement benefits liability, net of deferred tax Balance at end of year (868,167) (914,455) (914,455) (46,288) P1,238,249,905 P1,311,594,562 P373,730,493 See accompanying Notes to Consolidated Financial Statements. Capital Stock This account consists of: Number of Shares Amount 2020 2019 2018 2020 2019 2018 Authorized Capital Stock Common - P0.10 par value Balance at beginning of year 5,000,000,000 (300,000,000) 4,700,000,000 4,700,000,000 4,700,000,000 P470,000,000 P470,000,000 P500,000,000 (30,000,000) Reclassification to preferred stock Balance at end of year 4,700,000,000 4,700,000,000 470,000,000 470,000,000 470,000,000 Preferred - PO.01 par value Balance at beginning of year 3,000,000,000 3,000,000,000 30,000,000 30,000,000 3,000,000,000 3,000,000,000 7,700,000,000 Reclassification from common stock 30,000,000 3,000,000,000 7,700,000,000 30,000,000 P500,000,000 Balance at end of year 30,000,000 P500,000,000 3,000,000,000 30,000,000 7,700,000,000 P500,000,000 Issued and Outstanding- Common Balance at beginning of year P160,000,000 1,600,000,000 533,680,000 2,133,680,000 1,600,000,000 P213,368,000 P160,000,000 Issuances 53,368,000 160,000,000 P160,000,000 Balance at end of year 2,133,680,000 2,133,680,000 1,600,000,000 213,368,000 213,368,000 P213,368,000 P213,368,000
Years Ended December 31
Note
2020
2019
2018
REVENUE
18
P891,847,222 P1,945,184,563 P1,579,205,736
DIRECT COSTS
19
(356,478,659) (814,396,877) (665,367,430)
GROSS PROFIT
535,368,563 1,130,787,686
913,838,306
SELLING AND DISTRIBUTION EXPENSES
20
(493,018,940)
(772,051,259) (635,395,313)
GENERAL AND ADMINISTRATIVE EXPENSES
21
(121,155,301)
(182,220,088)
(131,451,739)
INTEREST EXPENSE
13
(20,658,602)
(38,664,963)
(16,065,157)
OTHER INCOME – Net
22
26,788,920
7,890,994
2,556,365
GAIN FROM BARGAIN PURCHASE
4
6,436,907
INCOME (LOSS) BEFORE INCOME TAX
(72,675,360)
145,742,370
139,919,369
PROVISION FOR (BENEFIT FROM) INCOME TAX
24
Current
19,794,400
(44,401,706)
44,884,664
43,339,450
(20,669,486)
24,215,178
Deferred
(3,723,588)
(24,607,306)
39,615,862
NET INCOME (LOSS)
(48,068,054)
121,527,192
100,303,507
OTHER COMPREHENSIVE LOSS
Item not to be reclassified to profit or loss
Remeasurement loss on retirement benefits
liability (net of deferred income tax)
16
(868,167)
TOTAL COMPREHENSIVE INCOME (LOSS)
ATTRIBUTABLE TO THE PARENT COMPANY
(248,068,054) P120,659,025
P100,303,507
Basic and Diluted Earnings (Loss) per Share
25
(P0.0225)
PO.0739
PO.0627
See accompanying Notes to Consolidated Financial Statements.
: Revenue
This account consists of:
Note
2020
2019
2018
Net sales
P872,989,411
13,204,275
5,653,536
P1,904,664,106
P1,533,709,139
Franchise fees
23
32,956,171
36,055,210
Rental income
23
7,564,286
9,441,387
P891,847,222 P1,945,184,563
P1,579,205,736
The Group recognizes revenue from sales of goods and services upon delivery to customers or at a
point in time when the Group has no more obligations that could affect the acceptance of goods by
the customers.
Details of the Group's revenue based on geographical markets are as follows:
Note
2020
2019
2018
Sale of goods:
Luzon
P663,801,125
163,309,752
45,878,534
P1,534,613,722 P1,267,576,409
273,436,992
96,613,392
Visayas
189,588,562
Mindanao
76,544,168
872,989,411
1,904,664,106
1,533,709,139
Franchise fees
23
32,956,171
P1,937,620,277 P1,569,764,349
13,204,275
36,055,210
P886,193,686
. Direct Costs
This account consists of:
Note
2020
2019
2018
Direct materials used
7
2305,734,523
P726,901,305
P590,119,121
Salaries, wages and other
employee benefits
Depreciation and amortization
30,967,806
62,214,295
54,426,242
1,793,406
1,703,580
10
15,296,270
17,449,482
2,362,716
2,117,344
Taxes and licenses
1,834,302
Utilities
5,997,493
5,554,421
Rental
23
11,770,660
2356,478,659
P814,396,877
P665,367,430
Salaries, wages and other employee benefits pertain to outside services and salaries and wages of
personnel performing tasks directly related to the production of merchandise inventories.
Transcribed Image Text:Years Ended December 31 Note 2020 2019 2018 REVENUE 18 P891,847,222 P1,945,184,563 P1,579,205,736 DIRECT COSTS 19 (356,478,659) (814,396,877) (665,367,430) GROSS PROFIT 535,368,563 1,130,787,686 913,838,306 SELLING AND DISTRIBUTION EXPENSES 20 (493,018,940) (772,051,259) (635,395,313) GENERAL AND ADMINISTRATIVE EXPENSES 21 (121,155,301) (182,220,088) (131,451,739) INTEREST EXPENSE 13 (20,658,602) (38,664,963) (16,065,157) OTHER INCOME – Net 22 26,788,920 7,890,994 2,556,365 GAIN FROM BARGAIN PURCHASE 4 6,436,907 INCOME (LOSS) BEFORE INCOME TAX (72,675,360) 145,742,370 139,919,369 PROVISION FOR (BENEFIT FROM) INCOME TAX 24 Current 19,794,400 (44,401,706) 44,884,664 43,339,450 (20,669,486) 24,215,178 Deferred (3,723,588) (24,607,306) 39,615,862 NET INCOME (LOSS) (48,068,054) 121,527,192 100,303,507 OTHER COMPREHENSIVE LOSS Item not to be reclassified to profit or loss Remeasurement loss on retirement benefits liability (net of deferred income tax) 16 (868,167) TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO THE PARENT COMPANY (248,068,054) P120,659,025 P100,303,507 Basic and Diluted Earnings (Loss) per Share 25 (P0.0225) PO.0739 PO.0627 See accompanying Notes to Consolidated Financial Statements. : Revenue This account consists of: Note 2020 2019 2018 Net sales P872,989,411 13,204,275 5,653,536 P1,904,664,106 P1,533,709,139 Franchise fees 23 32,956,171 36,055,210 Rental income 23 7,564,286 9,441,387 P891,847,222 P1,945,184,563 P1,579,205,736 The Group recognizes revenue from sales of goods and services upon delivery to customers or at a point in time when the Group has no more obligations that could affect the acceptance of goods by the customers. Details of the Group's revenue based on geographical markets are as follows: Note 2020 2019 2018 Sale of goods: Luzon P663,801,125 163,309,752 45,878,534 P1,534,613,722 P1,267,576,409 273,436,992 96,613,392 Visayas 189,588,562 Mindanao 76,544,168 872,989,411 1,904,664,106 1,533,709,139 Franchise fees 23 32,956,171 P1,937,620,277 P1,569,764,349 13,204,275 36,055,210 P886,193,686 . Direct Costs This account consists of: Note 2020 2019 2018 Direct materials used 7 2305,734,523 P726,901,305 P590,119,121 Salaries, wages and other employee benefits Depreciation and amortization 30,967,806 62,214,295 54,426,242 1,793,406 1,703,580 10 15,296,270 17,449,482 2,362,716 2,117,344 Taxes and licenses 1,834,302 Utilities 5,997,493 5,554,421 Rental 23 11,770,660 2356,478,659 P814,396,877 P665,367,430 Salaries, wages and other employee benefits pertain to outside services and salaries and wages of personnel performing tasks directly related to the production of merchandise inventories.
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Income Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education