The table shows extracts from the financial statements of Lamas Co for the year ended 31 December X2.
Statement of financial position
Income statement
$000s
Issued share capital
2,300
Profit before taxes
725
Retained earnings
1,200
Less debenture interest
-132
3,500
Net profit
593
12% long term loan
1,100
4,600
What is the return on long-term funds?
The correct answer is: 16%.
($725 /$4,600)
We use: profit available to all long term investors/all long-term investment.
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