The following are the financial statements of Paku Putih Berhad for Year 1 and Year 2. INCOME STATEMENT FOR YEAR ENDING 30 APRIL 2020 YEAR 1 RMD 00 RM000 YEAR 2 RM000 RM000 200 1.000 1,200 400 1.200 Sales Cash Credit Les Cost of Sales Opening Stock Purchases 1.600 70 800 60 1.050 1.110 870 60 80 Les Closing Stock Grow Profit Expenses Net Profit before Interest Interest on Debentures Net Profit before Taxation Corporation Tax Net Profit after Taxation Add Profit and Loss Account 810 390 192 198 10 188 47 141 2 143 1.030 570 208 362 10 352 88 264 1 265 Ordinary Dividend Preference Dividend Transfer to General Reserve Inappropriate Profit 18 4 120 60 4 200 142 1 264 1 STATEMENT OF FINANCIAL POSTION ASAT 30 APRIL 2020 YEAR 1 RMD00 YEAR 2 RM000 RM000 RM000 1,350 820 Net Fixed Assets Current Assets Stock Debtors Bank 60 100 123 283 80 130 96 306 Les Current Liabilities Creditors Corporation Tax Debenture Interest Due Ordinary Dividend Due Preference Dividend Due 70 47 10 18 4 149 70 88 10 60 4 232 134 74 1.424 200 754 200 1.224 Less Long-term Liabilities 5% Debentures Financed by Issued Share Capital Ordinary Shares of RM1 each 8% Preference Shares of RM1 each Reserves Share Premium General Profit and Loss Account 120 50 300 50 170 350 583 1 90 783 1 584 754 874 1.224 Note: a b The market value of the ordinaryshares was RMD in Year 1 and RMB in Year 2. Debtors should pay, and creditors should be paid, within 31 days. You are required to calculate the following ratios for each year (correct to 2 decimal places). Efficiency Ratios: Turnover to fixed assets; Rate of stock turnover, Debtor collection period Creditor payment period. WS