Please answer last two subparts only thnku The following information was extracted from the financial statements of Dollarama Ltd:Summarised Income Statement For The Year Ended 31 March20212022SalesLess: Cost of salesOpening inventoryAdd: PurchasesLess: Closing inventoryGross profit for the yearLess: Operating expensesNet profit for the yearCurrent AssetsInventoryAccount Receivable$000Current LiabilitiesAccounts payableBank overdraft in CIBC7204.1604,8801.080$000Balance Sheet Extracts As At March 312021$0001,080900$0006,200Notes:1) Cash sales for the year ended March 31, 2021 were $200,000 and cash sales for the year ended March31, 2022 were $600,000 respectively.2) All purchases were on credit.820403.8002,4001.800600iii. Inventory turnoveriv. Accounts receivable collection period in daysv. Accounts payable settlement period in days1,980$0008601,0805.1606.2401.4402022$0001,4401.4001,380340REQUIRED(a) Calculate, to two decimal places, the following ratios for each of the two years:i. Working capitalii. Acid test ratio (Quick ratio)$0007,6004.8002,8002.200600$0002,8401,720

Accounts receivable collection period in days :— It is the average days required for the customer…

The following information was extracted from the financial statements of Dollarama Ltd: Summarised Income Statement For The Year Ended 31 March 2021 2022 Sales Less: Cost of sales Opening inventory Add: Purchases Less: Closing inventory Gross profit for the year Less: Operating expenses Net profit for the year 2) All purchases were on credit. Current Assets Inventory Account Receivable $000 Current Liabilities Accounts payable Bank overdraft in CIBC 720 4.160 4,880 1.080 $000 Notes: 1) Cash sales for the year ended March 31, 2021 were $200,000 and cash sales for the year ended March 31, 2022 were $600,000 respectively. Balance Sheet Extracts As At March 31 2021 $000 1,080 900 $000 6,200 820 40 3.800 2,400 1.800 600 iii. Inventory turnover iv. Accounts receivable collection period in days v. Accounts payable settlement period in days 1,980 $000 860 1,080 5.160 6.240 1.440 2022 $000 1,440 1.400 1,380 340 REQUIRED (a) Calculate, to two decimal places, the following ratios for each of the two years: i. Working capital ii. Acid test ratio (Quick ratio) $000 7,600 4.800 2.800 2.200 600 $000 2,840 1,720

The following information was extracted from the financial statements of Dollarama Ltd: Summarised Income Statement For The Year Ended 31 March 2021 2022 Sales Less: Cost of sales Opening inventory Add: Purchases Less: Closing inventory Gross profit for the year Less: Operating expenses Net profit for the year 2) All purchases were on credit. Current Assets Inventory Account Receivable $000 Current Liabilities Accounts payable Bank overdraft in CIBC 720 4.160 4,880 1.080 $000 Notes: 1) Cash sales for the year ended March 31, 2021 were $200,000 and cash sales for the year ended March 31, 2022 were $600,000 respectively. Balance Sheet Extracts As At March 31 2021 $000 1,080 900 $000 6,200 820 40 3.800 2,400 1.800 600 iii. Inventory turnover iv. Accounts receivable collection period in days v. Accounts payable settlement period in days 1,980 $000 860 1,080 5.160 6.240 1.440 2022 $000 1,440 1.400 1,380 340 REQUIRED (a) Calculate, to two decimal places, the following ratios for each of the two years: i. Working capital ii. Acid test ratio (Quick ratio) $000 7,600 4.800 2.800 2.200 600 $000 2,840 1,720

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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