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Below is the adjusted trial balance of Wally Company as at 31 December 2019 before year end

By December 6, 2021No Comments

Below is the adjusted trial balance of Wally Company as at 31 December 2019 before year endclosing.Wally CompanyAdjusted Trial Balance31 December 2019DebitCreditsCash84.000Accounts receivable165.000Inventory265.000Prepaid rent50.000Land625.000Machine50,000Accumulated depreciation:Machine10,000Accounts payable110.000Dividend payable72,000Notes payable(due in 6 months)40,000Notes payable (due in 5 years)360.000Ordinary shares (par value $1.5 per share)300.000Retained earnings347.000Dividend72,000Sales revenue3.214.000Sales Return and Allowance124.000Cost of goods sold1,996,000Operating expense950.000Interest expense57.000Income tax expense15.000TOTAL4.453.0004.453.000Beginning and ending balances of all assets,liabilities and equity items remain almost constantthroughout the year.In 2019 the company had declared dividend only once and to be paid out inJanuary 2020.Market price per share on 31 December 2019 was S1.62.Required:Compute the following for Wally Company.Round your answers to two decimal places.Showyour workings.All answers MUST use the designated unit as specified in the question,if any.(a)Working Capital(S)(b)Quick Ratio(c)Inventory Turnover Rate(d)Debt Ratio(in%)(e)Return on Assets(%)(f)Dividend Yield (in %(g)Gross Profit Margin (in %

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