The following extracts of final accounts relate to Huddlestone Ltd. End of Year 1 000 000 End of Year 2 000 000 Fixed assets (net book value) 640 720 Current assets Stock 105 160 Trade debtors 105 280 Cash at bank 50 260 NIL 440 900 1,160 Less: Current liabilities Trade creditors 120 160 Bank overdraft NIL 120 145 305 Net assets 780 855 Capital account Balance at start of the year Net profit for year 670 780 Balance at end of the year 110 75 780 855 Sales (all on credit) 1,380 1,436 Cost of sales 966 1,077 Gross profit 414 359 1 year = 365 days Required (a) Calculate the following for each of the two years: (i) net asset turnover (times) (to two decimal places) (2) (ii) stock turnover (number of days) (iii) debtors collection period (number of days) (iv) creditors repayment period (number of days) (2) (2) (2)