The following statement of financial position relates to Mageuzi Ltd. as a t 31 December 2009.

      

The following statement of financial position relates to Mageuzi Ltd. as a t 31 December 2009.
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Additional information:
1. Sales in the in the year ended 31 December 2009 amounted to sh. 20 million. The sales for the
current year ending 31 December 2010 are expected to increase by sh. 4 million.
2. The net profit margin and retention ratio for the year ended 31 December 2009 were 8 % and 30%
respectively. These ratios are expected to be maintained in the foreseeable future.
3. All assets and current liabilities are expected to change in the current year ending 31 December
2010 at the same percentage as the change in sales.

Required:
i) The amount of external financial requirements for the year ending 31 December 2010.
ii) A proforma statement of financial position as at 31 December 2010.

  

Answers


Kavungya
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Kavungya answered the question on May 5, 2022 at 10:01


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