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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 28 February 2010:
Statement of profit or loss and other comprehensive income information for the year ended 28 February
2010:
Profit for the year...............................................................................................................
Income tax expenses..........................................................................................................
Cost of sales.........................................................................................................................
Gross profit .........................................................................................................................
Proft on sale of non-current assets: equipment.............................................................
Purchases.............................................................................................................................
R
13400
1420
149000
245100
5200
162300
Statement of financial position information as at 28 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......................................................................................
2010
R
38000
36000
24000
64000
13000
7000
40000
2000
6900
2009
R
24700
32000
31200
103000
9000
9000
42000
2000
3490
Additional information:
50% of all purchases for the year ended 28 February 2010 were on credit.
REQUIRED
Calculate the following ratios on 28 February 2010 for Thabo CC. Assume 365 days in a year
1. Profit margin
2. Acid test ratio
3. Trade payables payment (settlement) period
4. Inventory turnover rate
5. Cash ratio

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