The following information has been extracted from the books of account of Betty for the year to
Question:
The following information has been extracted from the books of account of Betty for the year to 31 January 2017:
Required:
Calculate the following accounting ratios:
(a) Gross profit ratio
(b) Return on capital employed
(c) Current ratio
Transcribed Image Text:
Statement of profit or loss for the year to 31 January 2017 £000 £000 100 Sales (all credit) Less: Cost of goods sold: Opening inventory Purchases Less: Closing inventory Gross profit Administrative expenses Net profit 15 65 80 (10) (70) 30 (6) 8 (16) 14 Statement of retained earnings for the year to 31 January 2017 Opening retained earnings 0 14 Net profit for the year Less: drawings Closing retained earnings
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Related Book For
Accounting For Non-Accounting Students
ISBN: 9781292128979
9th Edition
Authors: John R. Dyson, Ellie Franklin
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