A B C

1 ABC Limited
2 Statement of Comprehensive Income
3 For Years Ended 31 December 2012 and 2013
4 2013 2012
5 $ $
6 Sales 10,000,210 11,867,890
7 Cost of goods sold
8 Opening inventory 2,500,000 2,820,500
9 Purchases 8,500,120 8,735,000
10 11,000,120 11,555,500
11 Closing inventory 2,450,000 2,500,000
12 8,550,120 9,055,500
13 Gross profit 1,450,090 2,812,390
14 Selling expenses 560,000 478,900
15 General expenses 320,000 265,000
16 Total operating expenses 880,000 743,900
17 Operating income 570,090 2,068,490
18 Other expenses 89,000 150,600
19 Profits before tax 481,090 1,917,890
20 Tax 81,785 326,041
21 Profits after tax 399,305 1,591,849
22 Retained earnings, 1 January 4,738,959 3,747,110
23 5,138,263 5,338,959
24 Dividends 500,000 600,000
25 Retained earnings, 31 December 4,638,263 4,738,959
26
27
 A B C
28 ABC Limited
29 Statement of Financial Position
30 As at 31 December 2012 and 2013
31 2013 2012
32 $ $
33 Non-current assets (net) 4,576,785 4,657,541
34
35 Current Assets
36 Inventories 2,450,000 2,500,000
37 Trade receivables 1,285,650 1,147,890
38 Prepaid expenses 79,520 98,320
39 Bank 210,093 430,059
40 4,025,263 4,176,269
41
42 Current Liabilities
43 Short-term loan 500,000 600,000
44 Trade payables 1,042,000 828,810
45 Tax payables 81,785 326,041
46 1,623,785 1,754,851
47
48 Net current assets 2,401,478 2,421,418
49
50 Net assets 6,978,263 7,078,959
51
52 Financed by:
53
54 Share capital 2,340,000 2,340,000
55 Retained earnings 4,638,263 4,738,959
56 6,978,263 7,078,959
57
58 Efficiency ratios:
59 Inventory turnover ratio 3.45 3.40
60 Debtors collection period (in days) 46.93 35.30
61 Creditors payment period (in days 3.51 13.62
62 Sales to capital employed 1.43 1.68
63
64 Liquidity ratios:
65 Current ratio 2.48 2.38
66 Acid-test (quick) ratio 0.92 0.90
67
68 Profitability ratios:
69 Gross profit ratio 14.50% 23.70%
70 Net profit (before tax) ratio 4.81% 16.16%
71 Return (after tax) on capital empl 5.72% 22.49%
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A B C D
1 (a)
2 Monthly interest rate 0.67%
3 No. of months 60
4 Monthly contribution -5000 拎錢出黎打負數
5 Future Value HK$369,833.51
6
7 (b)
8 Quarterly interest rate 1.50%
9 No. of quarters 12
10 Quarterly contribution -7000
11 Future Value HK$91,288.48
12
13 (c)
14 Monthly interest rate 0.83%
15 No. of months 60
16 Monthly income 1000
17 Present Value (HK$47,065.37) 借47000,就可以每月收1000,就收到50000
18 Loan amount HK$50,000.00 但依家要你借50000,你就無左3000
19 Make the loan? (Y/N) N
20 AT THE BEGIN
21 (d)
22 Year 0 1 2
23 Cash (HK$200,000.00) -15000 35000
24 Discount rate 7.00%
25 NPV (HK$77,787.35)
26 Profitable N
27 AT THE END
28 (e)
29 Year 1 2 3
30 Cash (HK$100,000.00) -10000 30000
31 Discount rate 5.00%
32 NPV HK$17,275.28
33 Profitable Y
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23 50000 85000
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30 42000 78000
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