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 £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?
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SMOLIRA GOLF CORP. Balance Sheets as of December 31, 2001 and 2002 |
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2001 |
2002 |
2001 |
2002 |
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Assets |
Liabilities and Owners’ Equity |
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Current assets |
Current liabilities |
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Cash |
$ 650 |
$ 710 |
Accounts payable |
$ 987 |
$ 1,215 |
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Accounts receivable |
2,382 |
2,106 |
Notes payable |
640 |
718 |
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Inventory |
4,408 |
4,982 |
Total |
90 |
230 |
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Total |
$ 7,440 |
$ 7,798 |
Long-term debt |
$ 1,717 |
$ 2,163 |
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Fixed assets |
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Owners’ equity |
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Net plant and equipment |
$13,992 |
$18,584 |
Common stock and |
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Total assets |
$21,432 |
$26,382 |
paid-in surplus |
$10,000 |
$10,000 |
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Retained earnings |
5,397 |
10,029 |
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Total |
$15,397 |
$20,029 |
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Total liabilities and owners’ equity |
$21,432 |
$26,382 |
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SMOLIRA GOLF CORP. |
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2002 Income Statement |
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Sales |
$28,000 |
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Cost of goods sold |
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11,600 |
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Depreciation |
2,140 |
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Earnings before interest and taxes |
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$14,260 |
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Interest paid |
980 |
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Taxable income |
$13,280 |
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Taxes (35%) |
4,648 |
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Net income |
$ 8,632 |
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Dividends |
$4,000 |
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Addition to retained earnings |
4,632 |
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