IB Question 1 (20 marks) (a) Following are the partial balance sheet and some assumptions for Kiri-Kanan Company for 2021. Gross profit margin = 50% Inventory turnover = 5 Sales (2021) = RM3,000 Assets Liabilities & Equity Cash ? Accounts payables RM50 Accounts receivables RM40 Accruals ? Inventory ? Long-term debt RM400 Net fixed assets RM500 Equity 250 Total assets RM900 Total Liabilities & ? Equity Based on the information provided, calculate Kiri-Kanan's (0) Cash (ii) Accruals (iii) Inventory (iv) Total Liabilities & Equity (v) Current ratio (vi) Quick Ratio (Complete the balance sheet table and show all steps of calculations) [10 marks] (b) Selalu Maju Company had total sales of RM400,000 in 2021 (70 percent of its + Equity Based on the information provided, calculate Kiri-Kanan's: Cash Accruals Inventory Total Liabilities & Equity Current ratio Quick Ratio (Complete the balance sheet table and show all steps of calculations) IB (b) [10 marks] Selalu Maju Company had total sales of RM400,000 in 2021 (70 percent of its sales are credit). The company's gross profit margin is 10%, its ending inventory is RM80,000, and its accounts receivable is RM25,000. SULIT Compute the amount of fund can be generated if. (0) The company increases its inventory turnover ratio to 10.0. [4 marks] @ The company reduces its average collection period to 20 days. [4 marks] (i) Calculate the total fund generated [2 marks] A- BI EE D P