The information below relates to questions 1 3 below:

The following information was extracted from the financial records of Smith Limited at 28 February 2022, the end of the financial year:

	2022	2021
	R	R
Inventory	72 288	21 504
Other financial assets	124 800	120 000
Other financial liabilities	152 640	172 800
Trade receivables	55 008	45 504
Trade payables	31 584	27 360

Additional information:

1. The gross profit percentage is 35% on sales.
2. Purchases for the year amounted to R282 400 and 49% thereof were on credit.
3. Ratios reported in year ended 28 February 2021:
   • Trade receivables collection period 66.9 days
   • Trade payables payment period 64.9 days
   • Inventory turnover rate 6 times
4. Only 27% of the total sales were cash sales.

Question 1 Which of the following alternatives represents the correct trade receivables collection period of Smith Limited for year 2022?

a. 66.9

b.142.03

c. 70.52

d. 141.04

e. 51.48

Question 2

Which of the following alternatives represents the correct trade payables payment period of Smith Limited for year 2022?

a. 155.48

b. 77.74

c. 156.48

d. 64.9

e. 38.09

Question 3

Which of the following alternatives represents the correct inventory turnover rate of Smith Limited for year 2022?

a. 6

b. 2.17

c. 2.47

d. 3.22

e.4.94