The following data is extracted from income statement
Part 1The following data is extracted from income statement of Equation Sdn. Bhd.2013 (RM)2012 (RM)Net sales6,420,0006,420,000Opening inventory980,000860,000Purchases4,440,0004,661,000Closing inventory1,020,000980,000By using the information above, calculate the(i) Inventory turnover for the year 2012(ii) Inventory turnover for the year 2013Part 2The following is the comparative financial information for Division Sdn. Bhd.?s balance sheets31 December 2013(RM)31 December 2012(RM)Net sales800,000720,000Cost of sales480,00040,000Interest expenses7,0005,000Net revenue64,00042,000Accounts receivables120,000100,000Inventory85,00075,000Total asset600,000500,000Total owner equity450,000310,000You are required to calculate the following ratios for year 2013(i) Asset turnover(ii) Return on asset(iii) Return on owner equity
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