The following financial statements were prepared for the

management of #4518
The following financial statements were prepared for the management of MNM Ltd. The
statements contain some information that will be disclosed in note form in the general purpose
financial statements to be issued.Additional information1. The balances of certain accounts at
the beginning of the year are:2. Total assets and total equity at the beginning of the year were
$387 500 and $190 500 respectively.3. Income tax expense for the year was $31 500. Net
finance expenses were $3150.RequiredIdentify and calculate the ratios that a financial analyst
might calculate to give some indication of the following:a. The entity's earning abilityb. The
extent to which internal sources have been used to finance asset acquisitionsc. The rapidity
with which accounts receivable are collectedd. The ability of the entity to meet unexpected
demands for working capitale. The ability of the entity's earning to cover its interest
commitmentsf. The length of time taken by the entity to sell its inventories.View Solution:
The following financial statements were prepared for the management of

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