I have to calculate balance sheet.

items on the income statement are as follow:

Turnover ....................................456 000
cost of sales ................................298 500
gross income ...............................157 500
admin and sale expense ..................50 000
Trade income ............................ 107 500
income before tax and interest ..........107 500
interest paid ............................. 7 500
income before tax .......................100 000
tax ..........................................45 000
net income after tax ......................55 000
preference dividend .......................15 000
Net income from common shareholders 40 000
Common dividend 30 000
undivided for a year ......................10 000
undivided at beginning ...................40 000
undivided at end ..........................50 000


Now for the balance sheet , these is what should be calculated

1.calculate Fixed assets, floating assets or current assets and Net floating assets.
2.calculate the capital capital available on indefinite long term
3.calculate the capital capital available on definite long term
4.calculate outside capital own capital and short term capital

This is what i have done so far CORRECT ME PLEASE.

Balance sheet


OWN CAPITAL

common shares 30 000
Non divisible reserves 55 000
common shareholders interest 7 500
preference on shareholders 15 000

TOTAL 107 500

FIXED ASSETS

land and buildigs ------
machinery and equip.-----

Floating Assets(current assets):
cash 55 000
trade debtors --
stock --
Floating Liabilities(current liabilities):
tax due 45 000
expenses due(dividend) 7 500

TOTAL ASSETS : 107 500




Thanks in advance for any help and suggestion,

Moises

Thanks again Abril,


1-the problem does not provide any current ratio, Working capital or acid test ratio.It only asks me to Calculate it
2- TURNOVER the problem does not specify it it exacly, if receivables or inventory. in the book help sheet It says that turnover is or equals to net sales given in question.
3- UNDEVIDED iam not sure too what it is
4-the problem does not provide current ratio

I beleive this question is incomplete