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The following values relate to various ratios determined for a sole trader, Ben Bournemouth, for the year ended 30 June 2013. At that date, the total assets in the Balance Sheet were $900 000. The ratios relate to the accounts either in respect of the 12-month period or at the date of the Balance Sheet for the end of the period.
Gross Profit to Total Sales
=
25%
Current Ratio
2.5:1
Quick (acid test) Ratio
2:1
Credit Sales to Total Sales
75%
Non-current Assets to Current Assets
10%
Profit to Total Assets
15%
Accounts Payable to Purchases
40%
Profit Margin
Profit to Equity (start of period)
30%
Credit Sales to Accounts Receivable
7.5:1
Required:
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