PROBLEM 15.4 Calculation and interpretation of ratios Data for White Star Limited is as follows: Current assets Cash Receivables Inventories WHITE STAR LIMITED BALANCE SHEET AS AT 30 JUNE 2019 2018 $m $m 50 330 540 310 450 260 1 040 900 Total current assets Noncurrent assets Property, plant and equipment Total noncurrent assets Total assets 160 140 160 140 1 200 1 040 Current liabilities Creditors and borrowings Provisions Total current liabilities 630 510 15 10 645 520 Noncurrent liabilities Creditors and borrowings 245 195 Provisions 10 15 Total noncurrent liabilities 255 210 Total liabilities 900 730 Net assets 300 310 Shareholders' equity Share capital ($1 ordinary shares) 80 80 Reserves 10 35 35 Retained profits 185 195 Total shareholders' equity 300 310