The financial statements of Freezeqwik Ltd, a distributor of frozen foods, for the year ended 31 December
Question:
The financial statements of Freezeqwik Ltd, a distributor of frozen foods, for the year ended 31 December last year are:
All purchases and sales are on credit. There has been no change in the level of trade receivables or payables over the period.
Calculate the length of the OCC for the business.
Transcribed Image Text:
Income statement for the year ended 31 December last year 000 Sales revenue Cost of sales Opening inventories Purchases Closing inventories Gross profit Administration expenses Distribution expenses Operating profit Financial expenses Profit before taxation Taxation Profit for the year 142 568 710 (166) 000 820 (544) 276 (120) (95) 61 (32) 29 (7) 22
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