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Talk to an Expert| Category | Assignment | Subject | Financial |
|---|---|---|---|
| University | The Career Academy NZ (TCA NZ) | Module Title | ABKINT589 Financial Statement Analysis |
Read through the requirements below, and then complete all parts of the assessment and then save your work as either a Word document or a PDF file. Once you have saved your work click on the Assessment submission link within this topic and upload your completed assessment to your tutor for marking.
Required
Identify and discuss the benefits and limitations of ratio analysis.
You have been provided with a summary of the Profit & Loss data and Balance Sheet data for the past three years for Cooks & Cleans Limited (CCL).
CCL are a home handy service that are called into people's homes to cook and clean for them. CCL uses their own ingredients and cleaning equipment which is managed under a Periodic Inventory System. In the past three years CCL have invested significant funds into marketing both in print and online to increase their customer base and therefore boost income.
They are wanting to employ more staff to ensure they can meet the demand when the expected demand for their services increase.
| Particulars | 20X7 | 20X6 | 20X5 |
|---|---|---|---|
| Sales Income | |||
| Cooking & Cleaning Income | 187,718 | 188,189 | 177,743 |
| Cost of Goods Sold | |||
| Opening Inventory | 628 | 562 | 210 |
| Purchases – Ingredients & Cleaning Supplies | 10,895 | 20,365 | 15,585 |
| Less: Closing Inventory | (345) | (628) | (562) |
| Cost of Goods Sold | 11,178 | 20,299 | 15,233 |
| Gross Profit | 176,540 | 167,890 | 162,510 |
| Other Income | |||
| Interest Income | 472 | 588 | 510 |
| Dividend Income | 6,900 | 4,890 | 5,970 |
| Total Income | 183,912 | 173,368 | 168,990 |
| Expenses | |||
| General Administration Expenses | 2,036 | 1,850 | 1,069 |
| Advertising | 17,890 | 16,400 | 10,540 |
| Wages | 128,280 | 115,450 | 113,600 |
| Printing, Postage & Stationery | 263 | 204 | 198 |
| Telephone | 2,388 | 1,788 | 1,512 |
| Rent | 13,520 | 13,000 | 11,960 |
| Vehicle Expenses | 4,978 | 3,669 | 3,458 |
| Total Expenses | 169,355 | 152,361 | 142,337 |
| Net Profit Before Tax | 14,557 | 21,007 | 26,653 |
| Less: Taxation Expense (28%) | 4,076 | 5,882 | 7,463 |
| Net Profit After Tax | 10,481 | 15,125 | 19,190 |
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