Calculate liquidity and working capital ratios from accounts

Reference no: EM13920269

Calculate liquidity and working capital ratios from the accounts of a manufacturer of products for the construction industry, and comment on the ratios.

	20X8	20X7
	$m	$m
Turnover	2,065.0	1,788.7
Cost of sales	1,478.6	1,304.0
Gross profit	586.4	484.7
Current assets
Inventories	119.0	109.0
Receivables (note 1)	400.9	347.4
Short-term investments	4.2	18.8
Cash at bank and in hand	48.2	48.0
	572.3	523.2

Payables: amounts falling due within one year	20X8	20X7
Loans and overdrafts	49.1	35.3
Corporation taxes	62.0	46.7
Dividend	19.2	14.3
Payables (note 2)	370.7	324.0
	501.0	420.3
Net current assets	$m71.3	$m102.9
Notes
1 Trade receivables	329.8	285.4
2 Trade payables	236.2	210.8

Reference no: EM13920269

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