You are presented with the financials of Marketing Service CC for the years ending 31 December 2008 and 2009. Before you seek advice from your investment advisor, you as an investor would like to objectively analyse the financials. Based on the financial statements of Marketing Service CC for the years ended 31 December 2008 and 2009; you are required to calculate the following ratios:

1. c. Number of days in stock (assume a 360-day year) (Industry norm 75 days) (2)
2. d. Number of days in debtors (assume a 360-day year) (Industry norm 45 days) (2)

3. Statement of financial position (balance sheet) of Marketing Service CC
   as at 31 December 2008 and 31 December 2009
   				2008		2009
   Non-current assets				85 000		58 010
   Current assets				95 000		95 000
   Stock				72 500		40 000
   Debtors				22 500		35 000
   Bank				0		20 000
   TOTAL ASSETS				180 000		153 010
   Member's Interest				70 000		55 000
   Distributable reserves				40 000		15 010
   Total member's interest				110 000		70 010
   Long-term liability				30 000		25 000
   Current Liabilities
   Creditors				40 000		58 000
   EQUITIES AND LIABILITIES				180 000		153 010

4. 

Statement of comprehensive income income statement) of Marketing Service CC for 2008 and 2009 2008 2009 Gross revenue (all credit sales) Cost of Sales Gross profit 248 400 123 480 124 920 200 000 85 000 115 000 Operating expenses 70 320 54 600 45 000 70 000 Tax 19 110 35 490 24 500 45 500 Ordinary dividends 10 500 24 990 12 500 33 000 Balances at 31 December 2007 Inventory R 35 000 Debtors R 30 000