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STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2020 STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2020 2020 Rupees 2019 Rupees 2020 Rupees 2019 Rupees CASH FLOW FROM OPERATING ACTIVITIES Cash (used in)ygenerated from operations (278,630,685) 2,187,655,623 Sales - net Payments for Employees retirement benefits Finance cost 12,359,645,877 12,346,174,829 (27,215,164) (266,895,528) (169,478,284) (742,219,661) (27,412,125) (308,153,275) (151,161,822) Cost of sales (11,111,877,733) (10,733,443,352) Income tax Gross profit 1,247,768,144 1,612,731,477 Net cash (used inygenerated from operating activities 1,700,928,401 Distribution cost Administrative expenses (233,025,294) (155,084,179) (36,172,073) (223,401,105) (132,042,342) (104,264,650) CASH FLOW FROM INVESTING ACTIVITIES Other expenses (423,206,263) 679,000 (578,941,580) 19.088.500 Purchase of foxed assets Proceeds from disposal of fixed assets (424,281,546) (459,708,097) Net cash used in investing activities (422,527,263) (559,853,080) 823,486,598 1,153,023,380 Other income 32,500,619 6,804,907 CASH FLOW FROM FINANCING ACTIVITIES Operating profit 855,987,217 1,159,828,287 405,933,294 (354,095,045) Long term finances obtained Repayment of long term finances Net increase/(decrease) in short term borrowings Dividend paid 426,779,283 (303,439,245) (955,515,714) (146,760,757) Finance cost (306,630,426) (371,504,106) 1,289,311,580 Profit before taxation 549,356,791 788,324,181 (276,277,262) Provision for taxation (124,080,076) (152,899,408) Net cash generated from/(used in) financing activities 1,064,872,567 (978,936,433) Profit after taxation (99,874,357) 302,171,995 162,138,888 139,827,966 NET (DECREASEMINCREASE IN CASH AND CASH EQUIVALENTS 425,276,715 635,424,773 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 580,327 205,141 Earnings per share - basic and diluted 66.12 98.79 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 202,877,965 302.171.995

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2020 STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2020 2020 Rupees 2019 Rupees 2020 Rupees 2019 Rupees CASH FLOW FROM OPERATING ACTIVITIES Cash (used in)ygenerated from operations (278,630,685) 2,187,655,623 Sales - net Payments for Employees retirement benefits Finance cost 12,359,645,877 12,346,174,829 (27,215,164) (266,895,528) (169,478,284) (742,219,661) (27,412,125) (308,153,275) (151,161,822) Cost of sales (11,111,877,733) (10,733,443,352) Income tax Gross profit 1,247,768,144 1,612,731,477 Net cash (used inygenerated from operating activities 1,700,928,401 Distribution cost Administrative expenses (233,025,294) (155,084,179) (36,172,073) (223,401,105) (132,042,342) (104,264,650) CASH FLOW FROM INVESTING ACTIVITIES Other expenses (423,206,263) 679,000 (578,941,580) 19.088.500 Purchase of foxed assets Proceeds from disposal of fixed assets (424,281,546) (459,708,097) Net cash used in investing activities (422,527,263) (559,853,080) 823,486,598 1,153,023,380 Other income 32,500,619 6,804,907 CASH FLOW FROM FINANCING ACTIVITIES Operating profit 855,987,217 1,159,828,287 405,933,294 (354,095,045) Long term finances obtained Repayment of long term finances Net increase/(decrease) in short term borrowings Dividend paid 426,779,283 (303,439,245) (955,515,714) (146,760,757) Finance cost (306,630,426) (371,504,106) 1,289,311,580 Profit before taxation 549,356,791 788,324,181 (276,277,262) Provision for taxation (124,080,076) (152,899,408) Net cash generated from/(used in) financing activities 1,064,872,567 (978,936,433) Profit after taxation (99,874,357) 302,171,995 162,138,888 139,827,966 NET (DECREASEMINCREASE IN CASH AND CASH EQUIVALENTS 425,276,715 635,424,773 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 580,327 205,141 Earnings per share - basic and diluted 66.12 98.79 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 202,877,965 302.171.995

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ratios are subject to certain limitations and cannot be used as the only tool to assess performance of   a firm. Elaborate the proposition by preparing ratios analysis of the firm’s profitability.

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2020 STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2020 2020 2019 Rupees Rupees 2020 Rupees 2019 Rupees CASH FLOW FROM OPERATING ACTIVITIES Cash (used inygenerated from operations (278,630,685) 2,187,655,623 Sales - net Payments for: Employees retirement benefits Finance cost 12,359,645,877 12,346,174,829 (27,215,164) (266,895,528) (27,412,125) Cost of sales (11,111,877,733) (10,733,443,352) (308,153,275) Income tax (169,478,284) (151,161,822) Gross profit 1,247,768,144 1,612,731,477 Net cash (used in)/generated from operating activities (742,219,661) 1,700,928,401 (233,025,294) (155,084,179) (36,172,073) (223,401,105) (132,042,342) (104,264,650) Distribution cost CASH FLOW FROM INVESTING ACTIVITIES Administrative expenses Other expenses (423,206,263) 679,000 (578,941,580) 19,088,500 Purchase of fixed assets Proceeds from disposal of fixed assets (424,281,546) (459,708,097) Net cash used in investing activities (422,527,263) (559,853,080) 823,486,598 1,153,023,380 Other income 32,500,619 6,804,907 CASH FLOW FROM FINANCING ACTIVITIES Operating profit 855,987,217 1,159,828,287 Long term finances obtained Repayment of long term finances Net increase/(decrease) in short term borrowings Dividend paid 405,933,294 (354,095,045) 1,289,311,580 (276,277,262) 426,779,283 (303,439,245) (955,515,714) (146,760,757) Finance cost (306,630,426) (371,504,106) Profit before taxation 549,356,791 788,324,181 Provision for taxation (124,080,076) (152,899,408) Net cash generated from/(used in) financing activities 1,064,872,567 (978,936,433) (99,874,357) 302,171,995 580,327 Profit after taxation NET (DECREASE/INCREASE IN CASH AND CASH EQUIVALENTS 162,138,888 425,276,715 635,424,773 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 139,827,966 EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 205,141 Earnings per share - basic and diluted 66.12 98.79 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 202,877,965 302,171,995
Transcribed Image Text:STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2020 STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2020 2020 2019 Rupees Rupees 2020 Rupees 2019 Rupees CASH FLOW FROM OPERATING ACTIVITIES Cash (used inygenerated from operations (278,630,685) 2,187,655,623 Sales - net Payments for: Employees retirement benefits Finance cost 12,359,645,877 12,346,174,829 (27,215,164) (266,895,528) (27,412,125) Cost of sales (11,111,877,733) (10,733,443,352) (308,153,275) Income tax (169,478,284) (151,161,822) Gross profit 1,247,768,144 1,612,731,477 Net cash (used in)/generated from operating activities (742,219,661) 1,700,928,401 (233,025,294) (155,084,179) (36,172,073) (223,401,105) (132,042,342) (104,264,650) Distribution cost CASH FLOW FROM INVESTING ACTIVITIES Administrative expenses Other expenses (423,206,263) 679,000 (578,941,580) 19,088,500 Purchase of fixed assets Proceeds from disposal of fixed assets (424,281,546) (459,708,097) Net cash used in investing activities (422,527,263) (559,853,080) 823,486,598 1,153,023,380 Other income 32,500,619 6,804,907 CASH FLOW FROM FINANCING ACTIVITIES Operating profit 855,987,217 1,159,828,287 Long term finances obtained Repayment of long term finances Net increase/(decrease) in short term borrowings Dividend paid 405,933,294 (354,095,045) 1,289,311,580 (276,277,262) 426,779,283 (303,439,245) (955,515,714) (146,760,757) Finance cost (306,630,426) (371,504,106) Profit before taxation 549,356,791 788,324,181 Provision for taxation (124,080,076) (152,899,408) Net cash generated from/(used in) financing activities 1,064,872,567 (978,936,433) (99,874,357) 302,171,995 580,327 Profit after taxation NET (DECREASE/INCREASE IN CASH AND CASH EQUIVALENTS 162,138,888 425,276,715 635,424,773 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 139,827,966 EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 205,141 Earnings per share - basic and diluted 66.12 98.79 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 202,877,965 302,171,995
STATEMENT OF FINANCIAL POSITION AS AT JUNE 30, 2020 STATEMENT OF FINANCIAL POSITION 2019 Rupees 2020 AS AT JUNE 30, 2020 Rupees 2020 2019 Rupees EQUITY AND LIABILITIES SHARE CAPITAL AND RESERVES Rupees Authorized capital 6,500,000 (2019: 6,500,000) ordinary shares of Rs. 10 each ASSETS 65,000,000 65,000,000 64,320,000 Issued, subscribed and paid-up capital General reserve 64,320,000 3,800,000,000 3,500,000,00o NON-CURRENT ASSETS Accumulated profit TOTAL EQUITY 25,227,232 190,768,762 3,889,547,232 3,755,088,762 Fixed assets 3,811,341,459 3,781,059,749 14,394,095 LIABILITIES Long term deposits 14.394.095 NON-CURRENT LIABILITIES 3,825,735,554 3,795,453,844 Long term finances Long term payables Employees retirment benefits Deferred taxation 1,959,432,883 1,600, 161,851 276,729,403 226,379,287 CURRENT ASSETS 150,094,896 212,161,009 118,103,558 243,408, 108 Deferred grant 2,637,881 87,837,272 5,021,697,279|| 3,245,348,436 93,566,497 Stores, spares and loose tools Stock in trade 2,601,056,072 2,188,052,804 Trade receivables 816,681,600 CURRENT LIABILTIES 971,214,665 Advances, deposits, prepayments and other receivables Sales tax refundable 149,907,892 215,340,953 Trade and other payables 263,493,834 642,118,345 544,232,849 Unclaimed dividend 6,638,404 5,053,216 171,809,277 371,896.299 202,877,965 Accrued interest/profit Short term borrowings 82,844,398 75,540,323 Advance income taxlincome tax refundable 355,547,385 3,480,258,201 2,190,946,621 Current portion of non-current liabilities 59.566.428 369,637,092 Bank balances 302,171,995 4,271,425,776 3,185,410,101 6,872,481,848 5,373,462,905 6,936,293,526 5,333,097,823 TOTAL LIABILITIES CONTINGENCIES AND COMMITMENTS TOTAL ASSETS 10,762,029,080 9,128,551,667 TOTAL EQUITY AND LIABILITIES 10,762,029,080 9,128,551,667
Transcribed Image Text:STATEMENT OF FINANCIAL POSITION AS AT JUNE 30, 2020 STATEMENT OF FINANCIAL POSITION 2019 Rupees 2020 AS AT JUNE 30, 2020 Rupees 2020 2019 Rupees EQUITY AND LIABILITIES SHARE CAPITAL AND RESERVES Rupees Authorized capital 6,500,000 (2019: 6,500,000) ordinary shares of Rs. 10 each ASSETS 65,000,000 65,000,000 64,320,000 Issued, subscribed and paid-up capital General reserve 64,320,000 3,800,000,000 3,500,000,00o NON-CURRENT ASSETS Accumulated profit TOTAL EQUITY 25,227,232 190,768,762 3,889,547,232 3,755,088,762 Fixed assets 3,811,341,459 3,781,059,749 14,394,095 LIABILITIES Long term deposits 14.394.095 NON-CURRENT LIABILITIES 3,825,735,554 3,795,453,844 Long term finances Long term payables Employees retirment benefits Deferred taxation 1,959,432,883 1,600, 161,851 276,729,403 226,379,287 CURRENT ASSETS 150,094,896 212,161,009 118,103,558 243,408, 108 Deferred grant 2,637,881 87,837,272 5,021,697,279|| 3,245,348,436 93,566,497 Stores, spares and loose tools Stock in trade 2,601,056,072 2,188,052,804 Trade receivables 816,681,600 CURRENT LIABILTIES 971,214,665 Advances, deposits, prepayments and other receivables Sales tax refundable 149,907,892 215,340,953 Trade and other payables 263,493,834 642,118,345 544,232,849 Unclaimed dividend 6,638,404 5,053,216 171,809,277 371,896.299 202,877,965 Accrued interest/profit Short term borrowings 82,844,398 75,540,323 Advance income taxlincome tax refundable 355,547,385 3,480,258,201 2,190,946,621 Current portion of non-current liabilities 59.566.428 369,637,092 Bank balances 302,171,995 4,271,425,776 3,185,410,101 6,872,481,848 5,373,462,905 6,936,293,526 5,333,097,823 TOTAL LIABILITIES CONTINGENCIES AND COMMITMENTS TOTAL ASSETS 10,762,029,080 9,128,551,667 TOTAL EQUITY AND LIABILITIES 10,762,029,080 9,128,551,667
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