Question

The following information relates to Arte’s Gallery. The owner, P Arte, is concerned about the profitability and liquidity of the business.

.:.
ARTE’S GALLERY
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2012
Capital P. Arte 1 July 2011 ............ $192 900
LessLoss ................... 84 300
108 600
LessDrawings ................. 4,000
Capital P Arte 30 June 2012 .......... $104 600

.:.
Additional Information:
All Sales were on credit.

Required:
(a) Calculate the following ratios for 2011 and 2012. Show all calculations. (Where an average figure is not available, add this as a comment.)

Profit Margin Gross Profit margin
Current Ratio Quick Ratio
Receivables Turnover Average Collection Period
Inventory Turnover




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  • CreatedSeptember 19, 2013
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