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can you answer this please? with explanation The following case study is associated with more than one question. INCOME STATEMENT OF PHILIP PLC 2019 2020

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The following case study is associated with more than one question. INCOME STATEMENT OF PHILIP PLC 2019 2020 125,000 93.750 31,250 18,750 12 500 196 12,304 2,460 9,844 Sales 110,000 Cost of goods sold E88,000 Gross Profit 22,000 Selling general and admin expenses 8,800 Operating Profit 13 200 Interest Expense E352 Eamings before tax 12,848 Tax E2 569 Net Income 10,279 BALANCE SHEET AT YEAR END ASSETS- END OF PERIOD 2019 2020 LIABILITIES - END OF PERIOD Cash 3,500 3,144 Accounts payable (Creditors) Accounts receivable (debtors) 3,200 6,500 Notes payable Raw materials 1,500 2,500 Work in progress 5,500 7,200 Finished goods 2,000 3,000 Total Inventory (stock) 9,000 12,700 Total current assets 15,700 E22,344 Total current liabilities Long-term debt Property, plant and equipment 21,000 E19,000 Total liabilities Equity Common stock Retained earnings Total equity TOTAL ASSETS 36,700 41,344 TOTAL LIABILITIES AND EQUITY 2019 4,800 1,200 2020 5,500 E900 6,000 7,600 E13,600 6 400 4,000 10,400 3,500 16,000 19,500 E33,100 3,500 25,844 29,344 E39,744 REQUIRED: Between the end of the 2019 and end of 2020 trading periods respectively, the receivables period in days increased by

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