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Njengabo Limited is company in the coal export business and the following information was extracted from the financial records of this Ested company at
Njengabo Limited is company in the coal export business and the following information was extracted from the financial records of this Ested company at 28 February 2022, the end of the financial year 2022 R 2021 R Other financial liabilities Other financial assets Inventory Trade payables Trade receivables 178 800 181 200 154 500 125 400 89 500 22 600 37 000 28 700 64 500 47 800 Additional information: 1. Purchases for the year amounted to R310 000 and 51% thereof were on credit. 2. Ratios reported in year ended 28 February 2021 Trade receivables collection period-66.9 days Trade payables payment period-64.9 days Inventory turnover rate-6 times 3. Only 40% of the total sales were cash sales. 4. The gross profit percentage is 35% on sales
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