Question: *PLEASE DONT USE EXCEL* i need full step answer QUESTION 1 The following information was extracted from Super Supreme Enterprise as at 31 December 2021.
QUESTION 1 The following information was extracted from Super Supreme Enterprise as at 31 December 2021. Super Supreme Enterprise Statement of Financial Position as at 31 December 2021 RM RM Non Current Assets 230,000 Current Assets Inventories Bank Account Receivables Prepaid expenses 28,500 39,450 16,000 2.500 86.450 316.450 100,000 56,550 (6,600) 149,950 Owner's Equity Capital Add: Net Profit Less: Drawings Non Current Liabilities 5% Term Loan Current Liabilities Accounts Payable Accrued Expenses 100,000 60,000 6,500 66.500 316,450 Additional information: 1. Net sales and cost of sales for the year were RM210,000 and RM84,000 respectively. 2. All sales were made on credit. 3. Inventories as at 1 January 2021 were valued at RM15,500. Required: a. Calculate and comments the following ratios for the year ended 31 December 2021 for Super Supreme Enterprise: i. Current Ratio Acid test ratio iii. Gross Profit margin Net Profit margin Inventory Turnover ratio Account Receivable Collection Period iv. V. vi
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