A C K Q 2 3 A) 2019 INCOME STATEMENT FOR THE YEARS ENDING 31 AUGUST 2020 4 FORMULA USED 2020 2019 i) GROSS MARGIN PROFIT 975,000-460,000 x100 FORMULA USED 5 REVENUE 6 COST OF SALES 7 GROSS PROFIT 8...


Compare and contrast the company's performance for the years 2019 and 2020


A<br>C<br>K<br>Q<br>2<br>3<br>A)<br>2019<br>INCOME STATEMENT FOR THE YEARS ENDING 31 AUGUST<br>2020<br>4<br>FORMULA USED<br>2020<br>2019<br>i)<br>GROSS MARGIN PROFIT 975,000-460,000 x100<br>FORMULA USED<br>5 REVENUE<br>6 COST OF SALES<br>7 GROSS PROFIT<br>8 TOTAL EXPENSES<br>9 NET PROFIT<br>£950,000.00<br>£975,000.00<br>52,82%<br>GROSS MARGIN PROFIT<br>950,000-455,000 x100<br>95.20%<br>975,000<br>950,000<br>£ 455,000.00<br>£ 495,000.00<br>£ 320,000.00<br>£460,000.00<br>£515,000.00<br>ii)<br>NET PROFIT MARGIN<br>205,000 x100<br>£310,000.00<br>21% NET PROFIT MARGIN<br>175,000 x100<br>18,42%<br>975,000<br>£175,000.00<br>£ 205,000.00<br>950,000<br>10<br>iii)<br>CURRENT RATIOS<br>85,000<br>30,000<br>11<br>STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST<br>2,83<br>CURRENT RATIOS<br>82,000<br>30,000<br>2,83<br>12<br>13<br>2020<br>2019<br>iv)<br>QUICK RATIOS<br>85,000-20,000<br>2,16<br>QUICK RATIOS<br>14 NON-CURRENT ASSETS<br>15 CURRENT ASSETS<br>82,000-22,000<br>40,000<br>£ 70,000.00<br>£65,000.00<br>1,5<br>30,000<br>16<br>CASH AT THE BANK<br>£ 45,000.00<br>£ 22,000.00<br>£ 15,000.00<br>£ 82,000.00<br>£ 152,000.00<br>£23,000.00<br>£ 55,000.00<br>v)<br>TRADE RECEIVABLES DAYS<br>10,000 x365<br>3,74<br>17<br>TRADE RECEIVABLES DAYS<br>15,000 x365<br>5,73<br>INVENTORY<br>£20,000.00<br>£ 10,000.00<br>£ 85,000.00<br>975,000<br>950,000<br>18<br>TRADE RECEIVABLES<br>19 TOTAL CURRENT ASSETS<br>vi)<br>TRADE PAYABLES<br>30,000 x365<br>23,80<br>TRADE PAYABLES<br>40,000 x365<br>455,000<br>32,08<br>20 TOTAL ASSETS<br>£150,000.00<br>460,000<br>21 NON CURRENT LIABILITIES<br>22 CURRENT LIABILITIES<br>£26,000.00<br>vii)<br>INVENTORY TURNOVER<br>460,000<br>455,000<br>22,000<br>23 INVENTORY TURNOVER<br>20,6<br>23<br>TRADE PAYABLES<br>£40,000.00<br>£ 63,000.00<br>£ 89,000.00<br>£30,000.00<br>RATIOS<br>20,000<br>RATIOS<br>24 TOTAL LIABILITIES<br>25 NET ASSETS<br>£56,000.00<br>£ 94,000.00<br>26<br>B)<br>27 EQUITY<br>£ 200,000.00<br>£ 205,000.00<br>28<br>SHARE CAPITAL<br>£200,000.00<br>29<br>£ 175,000.00<br>30 TOTAL EQUITY<br>£89,000.00<br>£94,000.00<br>31<br>32<br>33<br>34<br>35<br>1. B) TRIAL BALANCE<br>2. A) PROFIT AND LOSS<br>3.A)<br>田<br>B.<br>

Extracted text: A C K Q 2 3 A) 2019 INCOME STATEMENT FOR THE YEARS ENDING 31 AUGUST 2020 4 FORMULA USED 2020 2019 i) GROSS MARGIN PROFIT 975,000-460,000 x100 FORMULA USED 5 REVENUE 6 COST OF SALES 7 GROSS PROFIT 8 TOTAL EXPENSES 9 NET PROFIT £950,000.00 £975,000.00 52,82% GROSS MARGIN PROFIT 950,000-455,000 x100 95.20% 975,000 950,000 £ 455,000.00 £ 495,000.00 £ 320,000.00 £460,000.00 £515,000.00 ii) NET PROFIT MARGIN 205,000 x100 £310,000.00 21% NET PROFIT MARGIN 175,000 x100 18,42% 975,000 £175,000.00 £ 205,000.00 950,000 10 iii) CURRENT RATIOS 85,000 30,000 11 STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2,83 CURRENT RATIOS 82,000 30,000 2,83 12 13 2020 2019 iv) QUICK RATIOS 85,000-20,000 2,16 QUICK RATIOS 14 NON-CURRENT ASSETS 15 CURRENT ASSETS 82,000-22,000 40,000 £ 70,000.00 £65,000.00 1,5 30,000 16 CASH AT THE BANK £ 45,000.00 £ 22,000.00 £ 15,000.00 £ 82,000.00 £ 152,000.00 £23,000.00 £ 55,000.00 v) TRADE RECEIVABLES DAYS 10,000 x365 3,74 17 TRADE RECEIVABLES DAYS 15,000 x365 5,73 INVENTORY £20,000.00 £ 10,000.00 £ 85,000.00 975,000 950,000 18 TRADE RECEIVABLES 19 TOTAL CURRENT ASSETS vi) TRADE PAYABLES 30,000 x365 23,80 TRADE PAYABLES 40,000 x365 455,000 32,08 20 TOTAL ASSETS £150,000.00 460,000 21 NON CURRENT LIABILITIES 22 CURRENT LIABILITIES £26,000.00 vii) INVENTORY TURNOVER 460,000 455,000 22,000 23 INVENTORY TURNOVER 20,6 23 TRADE PAYABLES £40,000.00 £ 63,000.00 £ 89,000.00 £30,000.00 RATIOS 20,000 RATIOS 24 TOTAL LIABILITIES 25 NET ASSETS £56,000.00 £ 94,000.00 26 B) 27 EQUITY £ 200,000.00 £ 205,000.00 28 SHARE CAPITAL £200,000.00 29 £ 175,000.00 30 TOTAL EQUITY £89,000.00 £94,000.00 31 32 33 34 35 1. B) TRIAL BALANCE 2. A) PROFIT AND LOSS 3.A) 田 B.
Jun 11, 2022
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