Income Statement of GadgetsCom Pty Ltd |
||
For the financial year ending in 2020 |
||
Items |
Amount in $'000 |
|
Income |
||
Sales revenue |
$ 5,500.00 |
|
Less: Cost of goods sold |
$ (2,100.00) |
|
Gross Profit |
$ 3,400.00 |
|
Less: Expenses |
||
Administration expenses |
||
Office salaries expense |
$ 825.00 |
|
Office utilities expenses |
$ 125.00 |
|
Depreciation expense |
$ 100.00 |
$ (1,050.00) |
Selling and distributions |
||
Sales salaries expense |
$ 425.00 |
|
Sales utilities expenses |
$ 35.00 |
$ (460.00) |
Total Expenses |
$ (1,510.00) |
|
Earnings before int. and tax |
$ 1,890.00 |
|
Less: Interest cost |
$ (250.00) |
|
Profit before tax |
$ 1,640.00 |
|
Less: Tax expenses |
$ (492.00) |
|
Profit of the year |
$ 1,148.00 |
Balance Sheet of GadgetsCom Pty Ltd |
||
Items |
Amount in $'000 |
|
ASSETS |
||
Non-Current assets |
||
Land |
$ 1,516.00 |
|
Buildings &Equipment |
$ 2,169.00 |
|
Less: Accumulated depreciation |
$ (350.00) |
$ 3,335.00 |
Current Assets |
||
Cash at bank |
$ 168.00 |
|
Inventory |
$ 600.00 |
|
Accounts receivable |
$ 450.00 |
$ 1,218.00 |
TOTAL ASSETS |
$ 4,553.00 |
|
LIABILITIES |
||
Non-Current Liabilities |
||
Bank loan |
$ 2,000.00 |
$ 2,000.00 |
Current Liabilities |
||
Accounts payable |
$ 900.00 |
|
Notes payable (due in 12 months) |
$ 250.00 |
$ 1,150.00 |
TOTAL LIABILITIES |
$ 3,150.00 |
|
NET ASSETS |
$ 1,403.00 |
|
Owner's Equity |
||
Share capital |
$ 866.00 |
|
Retained Earnings |
$ 537.00 |
$ 1,403.00 |
Profitability Ratios |
||
Ratios |
2019 |
2020 |
Given |
calculated |
|
Gross profit ratio |
55.00% |
61.82% |
Profit Margin |
23.00% |
20.87% |
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