Question 1 (24 marks) Mr Ekandjo, a law student had graduated five years ago. After graduation he decided to set up a law firm together with his close friends named: Ekandjo and Associates. The following information apply to Ekandjo and Associates (millions of dollars) for the year 2019. Details N$ (millions) Cash and Marketable Securities 120 Non-Current Assets 300 Sales 1050 Net Income 55 Other information Quick ratio 2.0 Current ratio 3.0 DSO 41 days ROE 12% Ekandjo has no preference shares only ordinary equity, current liabilities and long term debt. Required: As a Financial Management student, assist Mr Ekandjo to calculate and find the following: a) Accounts receivable. (3 marks) b) Current liabilities (4 marks) c) Current assets (3 marks) d) Total Assets (2 marks) e) Return on Assets (ROA) (4 marks) f) Return on Equity (ROE) (4 marks) g) Long-term debt (4 marks)

Financial management