材料全屏 Drive Co is a diverse business, one division of which runs a courier business using a fleet of small vans. The following information has been produced by the manager of the division for the year ended 30 June 20X4: Revenue $500,000 Gross profit $120,000 Operating profit $50,000 Loan (8% per year) $60,000 Asset turnover 4 47 【简答题】 Using the information provided, calculate (perform your calculations to 2 decimalplaces): (i) Interest cover (ii) Return on capital employed (ROCE) (ii) Gearing
【参考答案及解析】
Calculations: (i) Interest cover = $50,000/0.08 x $60,000 = 10.42 (ii) Asset turnover = revenue/capital employed 4 = $500,000/CE therefore CE = $125,000 ROCE = $50,000/$125;000 x l00 = 40.00% Or ROCE = asset turnover x operating profit margin = 4 x $50,000/$500,000 = 40.00% (iii) Gearing = debt/equity = $60,000/$125,000 = 48.00% Or Gearing = debt/debt + equity = $60;000/($60;000 + $125,000) = 32.43%
Calculations: (i) Interest cover = $50,000/0.08 x $60,000 = 10.42 (ii) Asset turnover = revenue/capital employed 4 = $500,000/CE therefore CE = $125,000 ROCE = $50,000/$125;000 x l00 = 40.00% Or ROCE = asset turnover x operating profit margin = 4 x $50,000/$500,000 = 40.00% (iii) Gearing = debt/equity = $60,000/$125,000 = 48.00% Or Gearing = debt/debt + equity = $60;000/($60;000 + $125,000) = 32.43%