The summarised statement of financial position and income statement of Losehill Co are given below.
Income statement
$
Statement of financial position
Revenue
2,500
ASSETS
Cost of sales
(1,700)
Assets
3,500
Gross profit
800
Expenses
(200)
EQUITY & LIABILITIES
Profit before tax
600
Share capital
1,000
Tax
(100)
Accumulated profits
1,400
Net profit
500
Liabilities
1,100
Total
What is the return on investment (ROCE) for Losehill Co?
________%
The correct answer is: 25%
ROCE = Profit before tax/Capital employed X 100 % = (600/2,400) X 100%
= 25%
In this example only one statement of financial position was given. If two are available, ie for the start and end of the period, average capital employed can be used.
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