The financial statements below are for 2 companies – AB Ltd and JP Ltd Statement of Financial position As at 30 lune 2019 AB Ltd 12.000 52.800 JP Ltd 9.500 38.400 4200 Cash at bank Accounts receivable Bills receivable Inventory Prepaid expenses Plant & equipment 34200 48.500 1.200 19.8600 311,000 167.400 255,600 Liabilities & Shareholders’ Equity Current liabilities 48 000 35.000 Non current liabilities 72.000 60.000 Share capital 120.000 120.000 Retained profits 78.000 39/600 310,000 255,600 Additional information The statements of financial performance for the companies for the year ended 30 June 2019 reveal the following AB Ltd 456 000 Sales revenue Cost of goods sold Operating profit alter tax 305.520 34,800 JP Ltd 3:45.600 230.040 20.400
The balance of certain accounts as at 1 July 2018 were Inventory Total assets Retained profits Accounts receivable Bills receivable 45 000 305,000 70,800 48,000 4800 30.500 248.400 32.400 35.000 3.600 Required: 1 Calculate the following rates for both companies – Current rate: Quick ratie, Inventory turnover, Average collection period for receivables 2. State which company you think is risky in short-term? 3 Calculate the following ratios for both companies-Rate of return on total assets Rate of return on shareholders’ equity 4. Which company do you think is the better investment?
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