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a. Calculate gross profit margin from the following, partially completed income statement.
Income Statement
Revenue/Sales
$8 000 000
Cost of goods sold
(6 500 000)
Gross profit
Operating expenses
(140 000)
Operating profit
1360 000
Interest expense
(70 000)
Profit before tax 1290000
Tax 387,000
Net Profit 903,000
b. Bloom at Rosman Ltd has $980,500 in accounts receivable and $4,600,000 in annual credit sales. Calculate the accounts receivable days (average collection period) of the company.
c. The current market price of the Goldies company's shares is $20. The company is planning to make a 1-for-10 rights issue at a subscription price of $19. You hold 500 shares at the time the rights issue is to be made. What will the ex-rights share price be?
d. Oishii Ltd draws a promissory note with a face value of $100,000. It is issued on 1 July and matures on 31 July. What is the interest rate if the drawer receives $97,500?
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