a. The following information is obtained from the financial statement of ALOLO Berhad for year 2018 and 2019. BALANCE SHEET 2019 2018 Cash 75,000 51,000 Receivables 48,000 39,000 Inventory 54,000 60,000 Prepaid expenses 6,000 9,000 Fixed Assets (net) 346,000 283,000 Total 529,000 442,000 Accounts Payable Accrued expenses Long-term Loan Common Stock Retained earnings Total 51,000 18,000 30,000 375,000 55,000 529,000 56,000 14,000 150,000 200,000 22,000 442,000 PROFIT AND LOSS STATEMENT Sales 660,000 Cost of goods sold 363,000 Gross profit 297,000 Operating expenses -183,000 Depreciation -35,000 Interest -5,000 Income before tax 74,000 Tax expense (20%) -14,800 Net Income 59,200 6 V. vi. Inventory turnover Average inventory days outstanding Fixed Assets turnover ratio Total Assets turnover vii. v