Following the launch of a new product on 1 July 2022, Croesus Enterprises experienced a period of rapid expansion in the last 6 months of the year ended 31 December 2022. The following information is available from the management accounts of Croesus Enterprises: 6 months to 31 December 2022 6 months to 30 June 2022 R R Inventories at end of period 2 440 000 920 000 Trade receivables at end of period 3 430 000 1 580 000 Cash and cash equivalent at end of period - 300 000 Trade payables at end of period 2 380 000 1 160 000 Short-term borrowing (overdraft) at end of period 500 000 - Sales (revenue) for the period