ASSIGNMENT:

FIRST DATE
-sells retail trendy clothes and accessories at a low price

FIRST DATE
BALANCE SHEET and INCOME STATEMENT (START UP)
as of June 31, 2017

ASSETS LIABILITIES AND OWNERS SALES P 20,000

EQUITY
CURRENT ASSETS:
COGS ( 5,000)
CASH CURRENT LIABILITES
P 10, 000 P 15,000
GROSS PROFIT 15,000
ACCOUNTS RECEIVABLE
2,000
INVENTORY LOANS AND LONG TERM EXPENSES (2,000)
30,000 LIABILITIES 32,000
NON-CURRENT ASSETS: INCOME BEFORE TAX 13,000
FURNITURE AND FIXTURES
25,000 INCOME TAX EXPENSE (3,900)
OWNERS EQUITY
P 20,000 NET INCOME 9100
TOTAL TOTAL
P 67,000 P 67,000
1. WORKING CAPITAL

Current Assets Current Liabilities

P42,000 15000= 27,000

2. CURRENT RATIO

Current Assets/ Current Liabilities

P42,000 / 15000 = 2.8

3. DEBT TO EQUITY RATIO

(Total Liabilties/ Total Shareholders Equity) : 1

(P15,000 / 32,000) : 1 = .47 : 1

4. GROSS MARGIN

Gross Profit / Gross Sales

P15,000 / 9,100 = 1.65

5. PROFIT MARGIN

Net income after Tax/ Net Sales

P9,100 / 20,000 = .46