Question 1 20 Marks) The following financial information has been extracted by Sing Wen for the financial year ending 31 May 2014: 000 Sales Purchases 780 330 Closing stock of finished goods Debtors Bank overdraft Creditors 57 72 25 48 Further information: All the sales and purchases were on credit. 1 year = 365 days. The opening stock of finished goods was 47,000. Required (a) Calculate the following working capital ratios to two decimal places: O finished goods stock turnover (number of times) (ii) debtor collection period (days) (iii) creditor payment period (days) (iv) current ratio (v) acid-test (quick) ratio