Choose a leader and secretary in your group. The secretary will be assigned to write the...

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Choose a leader and secretary in your group. The secretary will be assigned to write the answers with solutions (legibly and in order) of the required items. Kindly box your answers on items I- VII. The leader shall assign the required items equally, as much as possible, to all members in the group. A group discussion is highly encouraged in answering this case analysis. Castora Manufacturing gathered the following data for the period December 31, 2020: Operating Profit Margin- Sales Discount Prepaid Expenses Equity ratio Inventory COGS is 30% of Sales 25% 20,000 28,000 1. ii. iii. iv. 30% 60% of COGS Additional information: • Available cash is 125,000 • Accounts Receivable is estimated to have 10% of the net sales. • Remaining uncollectible amount is 5% of total accounts receivable Retained earnings 48,000 The company acquired 330,000 worth of land and 25,500 of fixed assets during the period. V. Required: a. Construct the Statement of Financial Position in good form b. Construct the Statement for Comprehensive Income in good form vi. vii. Sales Returns and Allowances Current Liabilities Tax rate Interest Expenses c. Compute for the following financial ratios and briefly give an analysis about the company's liquidity, profitability, solvency, and growth. Current ratio Quick or Acid test ratio Noncurrent Liabilities Receivable turnover Average collection period Inventory turnover Average sales period 5,000 205,000 40% 10,000 Choose a leader and secretary in your group. The secretary will be assigned to write the answers with solutions (legibly and in order) of the required items. Kindly box your answers on items I- VII. The leader shall assign the required items equally, as much as possible, to all members in the group. A group discussion is highly encouraged in answering this case analysis. Castora Manufacturing gathered the following data for the period December 31, 2020: Operating Profit Margin- Sales Discount Prepaid Expenses Equity ratio Inventory COGS is 30% of Sales 25% 20,000 28,000 1. ii. iii. iv. 30% 60% of COGS Additional information: • Available cash is 125,000 • Accounts Receivable is estimated to have 10% of the net sales. • Remaining uncollectible amount is 5% of total accounts receivable Retained earnings 48,000 The company acquired 330,000 worth of land and 25,500 of fixed assets during the period. V. Required: a. Construct the Statement of Financial Position in good form b. Construct the Statement for Comprehensive Income in good form vi. vii. Sales Returns and Allowances Current Liabilities Tax rate Interest Expenses c. Compute for the following financial ratios and briefly give an analysis about the company's liquidity, profitability, solvency, and growth. Current ratio Quick or Acid test ratio Noncurrent Liabilities Receivable turnover Average collection period Inventory turnover Average sales period 5,000 205,000 40% 10,000

Answer rating: 100% (QA)

A Construct the Statement of Financial Position in Good Form Assets Cash 125000 Accounts Receivable Net Sales x 10 225000 Inventory 60000 Prepaid Expenses 28000 Land 330000 Fixed Assets 25500 Total As... View the full answer