assuming that changes in the producer rsquo s price index are a satisfactory measure 543821 | Homework Solutions

The balance sheet of Rackett & Ball plc., a U.K.-based sporting goods manufacturer, is presented here. Figures are stated in millions of pounds (?m). During the year, the producers price index increased from 100 to 120, averaging.

	£2010 m Don't use plagiarized sources. Get Your Custom Essay on assuming that changes in the producer rsquo s price index are a satisfactory measure 543821 \| Homework Solutions This is a Snippet Preview Access a Complete Custom Written Paper Done by Our Expert Writers Order Essay	£2011 m
Fixed Assets:
Intangible assets	56	150
Tangible assets	260	318
Investments	4	5
	320	479
Current Assets:
Inventory	175	220
Trade receivable	242	270
Marketable securities	30	50
Cash	25	25
	472	565
Current Liabilities:
Trade payables	-170	-160
Net current assets	302	405
Total assets less current liabilities	622	884
Long-term liabilities	85	128
Total net assets	237	356
Owners Equity:
Common stock	42	42
Premium on common stock	87	87
Retained earnings	108	227
Total owners equity	237	356

110.The aggregate current cost of sales, depreciation, and monetary working capital adjustment is assumed to be ?216m. Required: Assuming that changes in the producers price index are a satisfactory measure of the change in R&Bs purchasing power, calculate, as best as you can, R&Bs monetary working capital adjustment and its gearing adjustment.

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