Page 303 - AFM Integrated Workbook STUDENT S18-J19
P. 303
Corporate failure and reconstruction
Summarised statement of financial position ($m)
20X7 20X8
Non-current assets: Intangible 36 32
Tangible (at book value) 176 222
–––– ––––
212 254
Current assets: Inventory 237 265
Receivables 105 132
Bank 52 13
–––– 394 –––– 410
–––– ––––
Total assets 606 664
–––– ––––
Equity: Share capital ($0.50 shares) 100 100
Retained earnings 299 348
–––– ––––
399 448
Long term loans 74 94
–––– ––––
473 542
Current liabilities: Payables 133 122
–––– ––––
Total equity and liabilities 606 664
–––– ––––
The current share price is $0.80 (it was $1.60 at the end of 20X7).
Required:
Summarise the performance of Zed Manufacturing in 20X8 compared
with 20X7.
291
