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Mike Owjai Finance Income Statements For The Year Ended December 31, 2020

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Alvaro Lopez

This document contains incomplete financial statements for Mike Owjai Finance for the year ended December 31, 2020. It provides some financial data but is missing key figures. Management has asked the assistant to try filling in the missing data using predefined financial ratios and formulas referring to existing data.

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Mike Owjai Finance Income Statements For The Year Ended December 31, 2020

Uploaded by

Alvaro Lopez
546 views6 pages
This document contains incomplete financial statements for Mike Owjai Finance for the year ended December 31, 2020. It provides some financial data but is missing key figures. Management has asked the assistant to try filling in the missing data using predefined financial ratios and formulas referring to existing data.

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This document contains incomplete financial statements for Mike Owjai Finance for the year ended December 31, 2020. It provides some financial data but is missing key figures. Management has asked the assistant to try filling in the missing data using predefined financial ratios and formulas referring to existing data.

Copyright:

© All Rights Reserved
Download as XLSX, PDF, TXT or read online from Scribd
Download as xlsx, pdf, or txt
546 views6 pages

Mike Owjai Finance Income Statements For The Year Ended December 31, 2020

Uploaded by

Alvaro Lopez
This document contains incomplete financial statements for Mike Owjai Finance for the year ended December 31, 2020. It provides some financial data but is missing key figures. Management has asked the assistant to try filling in the missing data using predefined financial ratios and formulas referring to existing data.

Copyright:

© All Rights Reserved
Download as XLSX, PDF, TXT or read online from Scribd
Download as xlsx, pdf, or txt
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Lesly Villagómez / Álvaro López / Ricardo García

A computer problem at Mike Owjai Finance has resulted in incomplete financial statements. Management of the com

Mike Owjai Finance


Income Statements
For the Year Ended December 31, 2020

Sales 4,282,999.51
Cost of Goods 2,965,000.00
Gross Profit 1317999.51298043
Depreciation 72,000.00
Selling & Admin. Expense 954,250.00
Lease Expense 45,750.00
Earnings Before Interest & Taxes 245999.512980431
Interest Expense 86249.6389173235
Earnings Before Taxes 159749.874063108
Taxes 61,499.88
Net Income 98,250.00

Note: Tax Rate 0.25

Recreate the financial statements as shown using formulas with the ratios fiven below to fill in the cells with the word "Ratio"

Ratio Value
Current Ratio 1.94235278
Inventory Turnover* 5
A/R Turnover 10
Fixed Asset Turnover 1.43997848
LTD To Equity 0.59215753
Times Interested Earned 2.13913043
Net Profit Margin 0.02293953
Return on Total Assets 0.02437572
Return on Equity 0.04486301

* Uses Cost of Goods Sold in numerator


Complete the financial statements by using formulas that refer to existind data to fill in the remaining cells

1. Rotación inventarios Costo de Venta


Inventarios
5.00 2,965,000.00
593,000.00

2. Retorno sobre activos Utilidad neta


activos totales
0.02437572 $98,250.00
$4,030,650.00

3. Margen neto utilida neta


ventas
0.02293953 98,250.00
4282999.513

4. Razón circulante Act. circulante


Pasivo corto plazo
1.94235278 $1,056,299.95
$543,824.97

ROE Utilidad neta


Capital contable
0.04486301 98,250.00
2190000.087
statements. Management of the company has asked you to see if you can fill in the missing data.

Mike Owjai Finance


Balance Sheet
As of December 31, 2020

Assets
Cash $35,000.00
Accounts Receivable $428,299.95
Inventory $593,000.00
Total Current Assets $1,056,299.95
Gross Fixed Assets $3,450,000.00
Accumulated Depreciation $475,650.33
Net Plant & Equipment $2,974,349.67
Total Assets $4,030,650.00
Liabilities & Owner´s Equity
Accounts Payable $359,575.00
Short-term Notes Payable 184,249.97
Total Current Liabilities $543,824.97
Long-term Debt $1,296,825.04
Common Equity $2,190,000.09
Total Liab. & Owner´s Equity 4,030,650.00

to fill in the cells with the word "Ratio". Use the Round function to round each of these answers to the neares
n the remaining cells
A computer problem at Mike Owjai Finance has resulted in incomplete financial statements. Management of the com
ments. Management of the company has asked y

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