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QUESTION - The financial information for two competitors, JibraiI Bhd and Mikail Bhd, as at 31 December 2015 and 2016 appear as below.
Jibrail Bhd
Mikail Bhd
2016 (RM)
2015 (RM)
2015(RM)
Net sales
1,549,035
1,350,000
339,038
325,000
Cost of goods sold
1,080,490
979,890
236,006
242,000
Operating expenses
302,275
300,110
79,000
73,450
Interest expense
6,800
8,132
1,252
1,050
Income tax expense
51,030
49,000
6,650
7,000
Current assets
325,975
312,410
83,336
79,467
Fixed assets (net)
521,310
500,000
139,728
125,812
Current I i abi I iti es
66,325
75,815
35,348
30,281
Long-term liabilities
108,500
90,000
29,620
25,000
Common stock, RM 1 par
120,000
Retained earnings
172,460
146,595
38,096
29,998
REQUIRED:
(a) Prepare a vertical analysis of income statement data for the year 2016 for Jibrail Bhd and Mikail Bhd.
(b) Compute the fol I owi ng ratios for 2016 for both companies:
(i) Return on assets
(ii) Ratio of liabilities to stockholders' equities
(iii) Current ratio
(iv) Asset turnover
Write the correct formula for the above ratios.
(c) Give your comments for both companies based on each ratio computed in (b).
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