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Home / Questions / Ratios and Foreign Companies Prince Albert Canning PLC had a 2002 net loss of £10418 on s...

Ratios and Foreign Companies Prince Albert Canning PLC had a 2002 net loss of £10418 on sales of £140682 both in thousands of pounds What was the company’s profit margin? Does the fact that

Ratios and Foreign Companies

Prince Albert Canning PLC had a 2002 net loss of £10,418 on sales of £140,682 (both in thousands of pounds). What was the company’s profit margin? Does the fact that these figures are quoted in a foreign currency make any difference? Why? In dollars, sales were $1,236,332. What was the net loss in dollars?

SMOLIRA GOLF CORP.

Balance Sheets as of December 31, 2001 and 2002

 

2001

2002

 

2001

2002

Assets

Liabilities and Owners’ Equity

Current assets

   

Current liabilities

 

Cash

$ 650

$ 710

Accounts payable

$ 987

$ 1,215

Accounts receivable

2,382

2,106

Notes payable

640

718

Inventory

4,408

4,982

Total

90

230

Total

$ 7,440

$ 7,798

Long-term debt

$ 1,717

$ 2,163

Fixed assets

 

 

Owners’ equity

 

 

Net plant and equipment

$13,992

$18,584

Common stock and

 

 

Total assets

$21,432

$26,382

paid-in surplus

$10,000

$10,000

     

Retained earnings

5,397

10,029

     

Total

$15,397

$20,029

     

Total liabilities and owners’ equity

$21,432

$26,382

 

 

SMOLIRA GOLF CORP.

 
 

2002 Income Statement

 

Sales

 

$28,000

Cost of goods sold

 

11,600

Depreciation

 

2,140

Earnings before interest and taxes

 

$14,260

Interest paid

 

980

Taxable income

 

$13,280

Taxes (35%)

 

4,648

Net income

 

$ 8,632

Dividends

$4,000

 

Addition to retained earnings

4,632

Jun 24 2020 View more View Less

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