Wiswell Limited is a trading company. Its year-end accounts for 20X4 and 20X3 include the following relevant details:

20X4 20X4 20X3 20X3 im ie 3 e Sales 1 936 000 1877 200 Cost of sales Opening stock 145 550 136 200 Add: purchases 120425255 1.025 666 W137 305 1 161 866 Less: closing stock (160 370) (145 550)

(0272435) (1 016 316)

Gross profit 908 565 860 884 Stocks 160 370 145 550 Debtors 226 485 209 063 Creditors 160 479 15 742 Calculate the following ratios for both 20X4 and 20X3:

i) stock turnover in days ii) | debtors turnover in days ili) creditors turnover in days.

Comment briefly on the significance of the changes in the ratios.

The following information about Worsley Bacup plc, a quoted company, is relevant to questions 13.30-13.33 inclusive. Extracts from Worsley Bacup’s accounts for the year ending 30 September 20X9 include the following useful information:

£000 Operating profit 986.7 Interest payable (106.0)

Profit before taxation 880.7 Taxation (240.0)

Profit after taxation 640.7 Dividends (250.8)

Retained profit 389.9 The company has 2 200 000 shares in issue. The shares have a nominal value of 25p each. The market price at 31 December 20X4 of a share in the company is £7.66.