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