Question $2$

Malone Fashions Ltd operates a chain of fashion shops. In recent months, the business has been under pressure from its suppliers to reduce the average credit period taken from three months to one month. Thus, the directors have approached the bank to ask for an increase in the existing overdraft for one year to be able to comply with the suppliers' demands. The most recent financial statements of the business are as follows:

Statement of Financial Position as at ${30}^{th}$ June $202$

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