Using the given financial statement, calculate

1. a. Operating ratio
2. b. Insurance expense ratio

 

 

INCOME STATEMENT Particulars Income Fee Revenue Expenses Cost of Sales: Wages and Salaries Electricity Expense Supplies Expense Gross Profit: Insurance Expense Interest Expense Council Rates Expense Operating Expenses: Depreciation Expense - Bowling Equipment 20,100 Depreciation Expense - Building 9,630 17,040 14,510 8,830 Operating Profit: Profit: BALANCE SHEET Particulars 248,320 Assets Current Assets: Cash at Bank Accounts Receivable Accrued Revenue 89,400 17,010 21,300 Amount 248,320 127,710 120,610 70,110 94,740 50,500 8,660 19,360 7,860 11,070 6.870 Supplies Prepaid Insurance Non Current Assets: Bowling Equipment 230,700 Accumulated Depreciation - Bowling Equipment -85,290 Building 400,990 Accumulated Depreciation - Building -54,780 Total Assets: Amount 53,820 491.710 545,530