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The following information was extracted from the financial statements of Thabo CC for the financial year ended 2 8 February 2 0 1 0 :
The following information was extracted from the financial statements of Thabo CC for the financial year ended February : Statement of profit or loss and other comprehensive income information for the year ended February : Profit for the year............................................................................................................... Income tax expenses.......................................................................................................... Cost of sales......................................................................................................................... Gross profit Proft on sale of noncurrent assets: equipment............................................................. Purchases............................................................................................................................. R Statement of financial position information as at February: Inventories.................................................................................................... Trade receivables.......................................................................................... Cash and cash equivalents........................................................................... Members contribution................................................................................ Retained earnings......................................................................................... Other components of equity....................................................................... Trade and other payables trade creditors Current portion of loan from member...................................................... Current tax payable...................................................................................... R R Additional information: of all purchases for the year ended February were on credit. REQUIRED Calculate the following ratios on February for Thabo CC Assume days in a year Profit margin Acid test ratio Trade payables payment settlement period Inventory turnover rate Cash ratio
The following information was extracted from the financial statements of Thabo CC for the financial year
ended February :
Statement of profit or loss and other comprehensive income information for the year ended February
:
Profit for the year...............................................................................................................
Income tax expenses..........................................................................................................
Cost of sales.........................................................................................................................
Gross profit
Proft on sale of noncurrent assets: equipment.............................................................
Purchases.............................................................................................................................
R
Statement of financial position information as at February:
Inventories....................................................................................................
Trade receivables..........................................................................................
Cash and cash equivalents...........................................................................
Members contribution................................................................................
Retained earnings.........................................................................................
Other components of equity.......................................................................
Trade and other payables trade creditors
Current portion of loan from member......................................................
Current tax payable......................................................................................
R
R
Additional information:
of all purchases for the year ended February were on credit.
REQUIRED
Calculate the following ratios on February for Thabo CC Assume days in a year
Profit margin
Acid test ratio
Trade payables payment settlement period
Inventory turnover rate
Cash ratio
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