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The following information is ANA Trading's data for the 2 years to 31 December 2023. Extract of Statement of Comprehensive Income for the year ended
The following information is ANA Trading's data for the 2 years to 31 December 2023. Extract of Statement of Comprehensive Income for the year ended 31 December 2022 2023 RM'000 RM'000 Sales 850 900 Gross Profit 250 300 Operating expenses 58 75 Extract of Statement of Financial Position as at 31 December 2022 2023 RM'000 RM'000 Machinery, at book value 500 600 Stock 55 60 Accounts receivable 80 150 Bank 30 15 Accounts payable 40 50 Capital 300 350 Note: The following were the figures as at 31 December 2021 RM Stock 50,000 Accounts receivable 120,000 Capital 280,000 Required: Calculate the following accounting ratios for the two years based on the above information. i. Current ratio. (5 marks) ii. Quick ratio. (5 marks) iii. Stock turnover period (Days). (5 marks) iv. Accounts receivable average collection period (Days)
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