Question: this is my answer but i think it wrong can someone correct it for me? The accounts of Safe Driving Parts (SDP) Pty Ltd for

this is my answer but i think it wrong can someone correct it for me?

The accounts of Safe Driving Parts (SDP) Pty Ltd for the period 2019-2020 are presented below 2019 2020 Cash in hand $15 $31 Accounts Receivable 25 29 Inventory 32 33 Vehicle 110 68 Furniture 60 48 TOTAL 242 209 31 14 40 30 Accounts Payable Bank loan (to be repaid after 5 years) Share Capital Retained Earnings 100 130 71 41 TOTAL 242 215 Net Sales 211 235 Cost of Goods Sold 160 178 41 45 Operating expenses Net Profit 10 12 Required: Compute the following ratios for 2020 (2 decimal places). Show your workings. i Gross profit margin ii Net Profit margin iii Current Ratio iv Quick ratio v Total Asset turnover ratio vi Average collection period of accounts receivable Answer Figures (235-178) Gross profit margin 24.26% 235 Net Profit margin 12 5.11% 235 Current ratio 209 4.75 times Formula Gross Profit Revenue Net Profit Revenue Current assets Current liabilities Current assets - inventory Current liabilities Net Sales Average Total Assets AverageAR * 365 44 Quick ratio 209-33 4 times 14+30 Total Asset turnover ratio 1.04 times 235 (242 + 209)/2 (25+29)/2 * 365 235 Average collection period of accounts receiveable 41.94 days Revenue
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