Xander Ltd experienced a fire on 30 June 2016 in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following balances.

Additional information:

1. The inventory turnover is 3.6 times.

2. The return on ordinary shareholders’ equity is 22%. Xander Ltd had no additional paid-up capital or reserves.

3. The receivables turnover is 9.4 times. All sales are on credit.

4. The return on assets is 12.5% (12.5 cents).

5. Total assets at 30 June 2015 were $805 000.

Required

Calculate the following for Xander Ltd:

(a) Cost of sales for 2016.

(b) Net sales for 2016.

(c) Profit for 2016.

(d) Total assets at 30 June 2016.  

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Cash Receivables (net) Inventory Accounts payable Notes payable (non-current) Ordinary shares, $100 each Retained earnings 30 June 2016 $ 30000 72500 200 000 50 000 30 000 400 000 113500 1 July 2015 $ 10000 126 000 180 000 90 000 60 000 400 000 101 000