Logbook Task 4 Unit Name: Foundations of Accounting Unit Code: Student Name: Student ID: Following are the extracted information from the statement of profit or loss for the year ending December 2019 of XYZ Pty Ltd. [You need to change or modify the name of the reporting entity, and the reporting amount of the financial statements] Income Statement for year ended 2019 Sales revenue 1.650,000 Less: Cost of sales 1,000,000 Gross profit 650,000 Add other income 25,000 Less: Operating expenses 325,000 Profit before tax 350,000 Less: Income tax 100.000 Net Profit (Loss) after tax 250,000 Balance Sheet 2019 (S) 2018 (5) Cash 60,000 40,000 Accounts receivable (debtors) 40,000 90,000 Inventory 130,000 70.000 Prepaid expenses 25,000 15,000 Building 80,000 50,000 Land 150,000 100.000 Accounts payable 80,000 40,000 Accrued expenses 20,000 10,000 Income tax payable 100,000 90,000 Equity (Balancing amount) 285,000 225,000 You are required to calculate and interpret the following ratios (Instructions: You need to write the formulas: modify the amount, calculate the ratios using average amount of balance sheet, and interpret the meaning of each ratio. You can calculate in excel but must submit in word file): i. Return on assets ii. Assets turnover iii. Days inventory ratio iv. Days debtors' ratio V. Inventory tumover vi. Debtors' turnover vii. Current ratio viii. Quick ratio ix. Debt to Equity Ratio x. Gross profit margin Page 1 of 1