Question 1 25 Marks Hisense Traders recruited you as their accountant for 31 July 2021 financial year. The business has the following information Credit Sales N$ 582 000 Mark-up 30% Opening Stock N$ 38,400 Closing Stock N$ 18,800 Total Expenses N$ 43 100 Debtors Turnover 12 Times Creditors Turnover 16 Times Current Assets N$ 155 600 Current Liabilities N$ 77 800 Calculate the following a) Gross profit 3 Marks b) Cost of Sale 2 Marks c) Purchases 2 Marks d) Inventory turnover (days) 4 Marks e) Net profit margin 4 Marks ) Debtors Balance 2 Marks g) Creditors Balance 2 Marks h) Current Ratio 2 Marks 1) Cash balance 2 Marks 1) Bank Overdraft 2 Marks ROUND-OFF YOUR ANSWERS TO THE NEAREST ZERO DECIMAL PLACE