Question: Please show all workings step by step Footfall Manufacturing Ltd. reports the following financial information at the end of the current year: Net Sales $100,000

Please show all workings step by step

Footfall Manufacturing Ltd. reports the following financial information at the end of the current year: Net Sales $100,000 Debtors turnover ratio (based on net sales) 2 Inventory turnover ratio 1.25 Fixed assets turnover ratio 0.8 Debt to assets ratio 0.6 Net profit margin 5% Gross profit margin 25% Return on investment 2%

Use the given information to fill out the templates for income statement and balance sheet given below:

Income Statement of Footfall Manufacturinf Ltd. for the year ending December 31, 20XX (in $)

Sales 100,000 Cost of goods sold Gross profit Other expenses Earnings before tax Tax @50% Earnings after tax

Balance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX (in $)

Liabilities Amount Assets Amount Equity Net fixed assets Long term debt 50,000 Inventory Short term debt Debtors Cash TOTAL TOTAL

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