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Question - The following information has been extracted from the financial statements and notes of Pandana Fashions Ltd.
2021
2020
Sales revenue
$580,000
$575,000
Interest expense
$23,000
$26,500
Income tax expense
$44,600
$53,000
Profit
$52,500
$56,100
Dividends
$2,800
Total assets
$540,000
$555,000
Total liabilities
$300,000
$330,000
Total equities
$240,000
$225,000
Required -
A. Calculate the following ratios for 2020 and 2021:
(1) profit margin
(2) return on assets (ROA)
(3) return on equity (ROE)
B. Analyse the company's profitability.
C. Discuss the general limitations of financial statement analysis.
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