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    Quiz 1

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    jevieconsultaaquino2003
    Ariel Corporation's financial position and income statement for 2020 and 2019 are presented. Total assets increased to PHP 225.85 million in 2020 from PHP 200 million in 2019, with current assets growing to PHP 59.85 million from PHP 18.72 million. Total liabilities decreased to PHP 93.45 million in 2020 from PHP 115.64 million in 2019, as non-current notes payable declined to PHP 73.55 million from PHP 100 million. Net income after taxes was PHP 71.87 million in 2020 compared to PHP 75.21 million in 2019.

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    Quiz 1

    Uploaded by

    jevieconsultaaquino2003
    24 views2 pages
    Ariel Corporation's financial position and income statement for 2020 and 2019 are presented. Total assets increased to PHP 225.85 million in 2020 from PHP 200 million in 2019, with current assets growing to PHP 59.85 million from PHP 18.72 million. Total liabilities decreased to PHP 93.45 million in 2020 from PHP 115.64 million in 2019, as non-current notes payable declined to PHP 73.55 million from PHP 100 million. Net income after taxes was PHP 71.87 million in 2020 compared to PHP 75.21 million in 2019.

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    Ariel Corporation's financial position and income statement for 2020 and 2019 are presented. Total assets increased to PHP 225.85 million in 2020 from PHP 200 million in 2019, with current assets growing to PHP 59.85 million from PHP 18.72 million. Total liabilities decreased to PHP 93.45 million in 2020 from PHP 115.64 million in 2019, as non-current notes payable declined to PHP 73.55 million from PHP 100 million. Net income after taxes was PHP 71.87 million in 2020 compared to PHP 75.21 million in 2019.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    24 views2 pages

    Quiz 1

    Uploaded by

    jevieconsultaaquino2003
    Ariel Corporation's financial position and income statement for 2020 and 2019 are presented. Total assets increased to PHP 225.85 million in 2020 from PHP 200 million in 2019, with current assets growing to PHP 59.85 million from PHP 18.72 million. Total liabilities decreased to PHP 93.45 million in 2020 from PHP 115.64 million in 2019, as non-current notes payable declined to PHP 73.55 million from PHP 100 million. Net income after taxes was PHP 71.87 million in 2020 compared to PHP 75.21 million in 2019.

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    Ariel Corporation

    Comparative Statement of Financial Position


    December 31, 2020
    (in Thousand Pesos)
    2020 2019
    ASSETS
    Current Assets
    Cash and Cash Equivalents 24,890 2,120
    Held for Trading Securities 10,000
    Trade & Other Receivables 16,000 6,000
    Inventory 8,960 10,600
    Total Current Assets 59,850 18,720
    Non Current Assets
    Property, Plant and Equipment 150,000 161,280
    Investment in Equity Securities 16,000 20,000
    Total Non-Current Asset 166,000 181,280
    TOTAL ASSETS 225,850 200,000

    LIABILITIES & SHAREHOLDERS’ EQUITY


    Current liabilities
    Trade and Other Payables 8,400 3,350
    Unearned Revenues 10,600 11,650
    Notes Payable-current 900 600
    Total current liabilities 19,900 15,600
    Non Current Liabilities
    Notes Payable – Non current 73,550 100,000
    Total Liabilities 93,450 115,640

    SHAREHOLDERS’ EQUITY
    Ordinary Shares, P100 par 80,000 60,000
    Premium on Ordinary Shares 16,000 10,000
    Total Paid-in-capital 96,000 70,000

    Retained Earnings 36,400 14,400


    Total shareholders’ equity 132,400 84,400
    TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY 225,850 200,000
    Ariel Corporation
    Comparative Income Statement
    For the Years Ended December 31, 2020 & 2019
    (in Thousand Pesos)

    2020 2019
    Sales 480,000
    400,000
    Less: Cost of goods sold 364,000
    280,000
    Gross Income 116,000
    120,000
    Add: Other Income 15,000
    9,600
    Total Income 131,000
    129,600
    Less: Other expenses 12,400
    Finance Cost (Interest) 14,400 19,000
    Total Expenses 26,800 19,000
    Net income before taxes 104,200 110,600
    Less: Income tax 32,334 35,392
    Net Income after Taxes 71,866 75,208

    Compute the following ratios:

    1. Current Ratio
    2. Quick Ratio
    3. Inventory turn over
    4. Receivable turnover
    5. Debt-to-equity ratio
    6. Debt Ratio
    7. Equity Ratio
    8. Profit Margin
    9. Return on Asset
    10. Return on Equity

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