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last person to solve it neglected the fact that there're 2 years involved please don't do the same INCOME STATEMENT FOR THE YEAR ENDED MARCH
last person to solve it neglected the fact that there're 2 years involved please don't do the same
INCOME STATEMENT FOR THE YEAR ENDED MARCH 31 BALANCE SHEET Note: Sales revenue includes cash sales of K300,000 in 2002 and K100,000 in 2003 respectively. Required: Calculate the following for each of the two years and make comments on the performance in those two years (Assume a year of 360 days) a) Current ratio b) Acid test ratio c) Inventory turnover ratio (using closing inventory) d) Average period of credit allowed to customers e) Average period of credit taken from suppliers. f) Gross profit margin g) Net profit margin Step by Step Solution
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