Question 3Zarareez CompanyComparative Statements of Comprehensive Incomefor years ended 31 December20172016(RM)(RM)520,000Net Sales (all on account)ExpensesCost of goods soldSelling and administrativeInterest expenseIncome tax expenseTotal expenses600,000415,000354,000120,800114,8007,8006,00014.00018,000561,600488,800Net Income38,40031,200Zarareez CompanyComparative Statements of Financial Positionas at 31 December20172016(RM)(RM)AssetsCurrent AssetsCash21,00018,000Short-term investmentsAccounts receivable (net)InventoryTotal current assets18,00015,00086,00074,00090,00070,000215,000177,000Plant assets (net)Total assets423,000383,000638.000560,000Liabilities and Stockholders' EquityCurrent LiabilitiesAccounts payableIncome taxes payableTotal current liabilities122,000110,00023,00020,000145,000130,000Long-term liabilitiesBonds payable120,00080,000Total liabilities265,000210,000Stockholders' equityCommon stock (RM5 par)Retained earningsTotal stockholders' equityTotal liabilities and stockholders' equity150,000150,000223,000200,000373,000350,000638,000560.000Additional data:The common stock recently sold at RM19.50 per share.The year-end balance in the allowance for doubtful accounts was RM3,000 for 2017 andRM2,400 for 2016.InstructionsCompute the following ratios for 2017.(h) Return on common stockholders' equity(i) Earnings per share(i) Price-earnings(k) Payout(a) Current(b) Acid-test(c) Receivables turnover(d) Inventory turnover(e) Profit margin(1) Debt to total assets(f) Asset turnover(m) Times interest earned(g) Return on assets

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Question 3 Zarareez Company Comparative Statements of Comprehensive Income for years ended 31 December 2017 2016 (RM) (RM) Net Sales (all on account) Expenses Cost of goods sold Selling and administrative Interest expense Income tax expense Total expenses 600,000 520,000 415,000 354,000 120,800 114,800 7,800 6,000 18,000 14,000 561,600 488,800 Net Income 38,400 31,200 Zarareez Company

Question 3 Zarareez Company Comparative Statements of Comprehensive Income for years ended 31 December 2017 2016 (RM) (RM) Net Sales (all on account) Expenses Cost of goods sold Selling and administrative Interest expense Income tax expense Total expenses 600,000 520,000 415,000 354,000 120,800 114,800 7,800 6,000 18,000 14,000 561,600 488,800 Net Income 38,400 31,200 Zarareez Company

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter4: Accounting For Retail Operations

Section: Chapter Questions

Problem 4.2MBA: Sales transactions Using transactions listed in P4-2, indicate the effects of each transaction on...

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