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

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

correct it for me? The accounts of Safe Driving Parts (SDP) Pty

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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