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please help The following is Zulu statement of financial position for the year ended 31 December 2020. Additional information: - The following balances are available
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The following is Zulu statement of financial position for the year ended 31 December 2020. Additional information: - The following balances are available for 31 December 2020 i) Inventory R480 000 ii) Trade receivables R306000 iii) Trade payables R522000 - Turn over for the year ended 31 December 2020 amounted to R12 000000 . The gross profit percentage is 25% - Half of the turnover is credit sales and 75% of purchases are credit purchases. Required: Calculate the following ratios for the year ended 31 December 2020. - Debt ratio - Current ratio - Quick ratio - Debtors' collection period - Creditors payment period - Debt to equity ratioStep by Step Solution
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