Question 1: The Gulf had sales of AED 20,000,000 and cost of goods sold of AED 10,250,000. Selling and administrative expenses represented 8 percent of sales. Depreciation was 5 percent of the total assets of AED 40,000,000. Determine the firm’s operating profit?
Question 2: SAM Technology had AED 640,000,000 of retained earnings on December 31, 2012. The company paid common dividends of AED 30,000,000 in 2012 and had retained earnings of AED 500,000,000 on December 31, 2011. How much did SAM Technology earn during the year 2012, and what would earnings per share be if 40,000,000 shares of common stock were outstanding?
Question 3: Partial Income Statement Year Ending 2011:
a) Complete the partial income statement if the company paid interest expense of $18,000 for the year 2011 and had an overall tax rate of 40% for 2011.
b) Complete the balance sheet.
c) Find out the cash flow from assets for 2011 and break it down to its three parts: operating cash flow, capital spending and change in net working capital.