A business memo is a short document which is used to communicate information within an organization. Memos are expected to be brief, clear and easy to navigate. Required1. Describe the weaknesses and strength of the company’s financial data.2. Provide suggestions on how to improve company’s performance Mezzan Holding Company K.S.C.P. and subsidiariesConsolidated statement of profit or lossfor the year ended 31 December 2019Notes20192018KDKD(Restated)Revenues27222,466,358207,471,048Cost of revenue(173,721,879)(163,452,214)Gross profit48,744,47944,018,834Selling and distribution expensesGeneral and administrative expenses(18,462,145)(16,844,976)(18,330,064)(18,549,573)Other income23690,2201,886,735Results from operating activities12,642,49010,511,020Finance costs(3,666,838)(96,381)(2,764,974)Share of (loss) /profit of associates116,918Impairment of non-financial assets- net24(2,244,509)(748,020)Profit for the period before contribution to KuwaitFoundation for the Advancement of Sciences ("KFAS"),National Labour Support Tax ("NLST"), Zakat andboard of directors' remuneration6,634,7627,114,944KFAS(59,326)(74,030)NLST(134,477)(211,282)(53,138)(50,000)Zakat(83,697)Board of directors' remuneration12(75,000)6,670,935Profit for the year6,337,821Profit attributable to:Shareholders of the Company5,635,6376,959,019Non-controlling interests19702,184(288,084)6,337,8216,670,935Earnings per share (basic and diluted) (fils)2618.50 fils22.56 filsThe accompanying notes form an integral part of these consolidated financial statements.Key Ratio2019Return on average assets3.43207Current ratio1.04066Quick ratio0.70094Return on average equity6.09638Net Profit Margin - trailing 12 months3.59489 Mezzan Holding Company K.S.C.P. and subsidiariesConsolidated statement of financial positionas at 31 December 2019Notes20192018KDKD(Restated)AssetsProperty, plant and equipmentRight of use assetsIntangible assetsInvestment in associates78,105,5373,252,26929,400,6131,071,8243,990,822722,75179,458,25013,528,5711,241,2254,095,856585,810Investment propertiesBiological assetsInvestments at fair value through other comprehensiveincome930301,933,479118,477,2951,692,239100,601,951Non-current assetsInventories1046,308,05678,362,14817,182,905141,853,109260,330,40440,971,21558,897,76116,677,660116,546,636217,148,587Trade and other receivables11Cash and cash equivalentsCurrent assets13Total assetsEquityShare capitalTreasury sharesStatutory reserveVoluntary reserveFair value reserve141531,132,500(4,563,800)16,601,33516,601,3351,120,264(472,540)(1,763,509)46,939,964105,595,5498,024,852113,620,40131,132,500(4,463,160)16,601,33516,601,335975,219(471,149)(1,210,669)46,177,047105,342,4584,489,938109,832,3961617Foreign currency translation reserveOther reserveRetained earningsEquity attributable to shareholders of the CompanyNon-controlling interestsTotal equity1819LiabilitiesLoans and borrowingsLease liabilitiesRetirement benefit obligationNon-current liabilities201,093,2302,030,6417,275,29410,399,1652,552,7606215,845,5018,398,261Loans and borrowingsBank overdraftsLease liabilities85,924,5604,556,790975,99044,853,498136,310,838146,710,003260,330,4042050,702,9718,906,974136.Trade and other payables2239,307,98598,917,930107,316,191217,148,587Current liabilitiesTotal liabilitiesTotal equity and liabilitiesThe accompanying notes form apintegral part of these consolidated financial statements.Garrett WalshChief Executive OfficerMohammed Jassim Al WazzanVice Chairman

A company that has a quick ratio of less than 1 may not be able to fully pay off its current…

Answered: 1. Describe the weaknesses and strength…

1. Describe the weaknesses and strength of the company’s financial data. 2. Provide suggestions on how to improve company’s performance

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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