$000 Sales revenue 20,000 Cost...
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Finance
| $000 | |
| Sales revenue | 20,000 |
| Cost of sales | (17,000) |
| Distribution costs | (600) |
| Administrative expenses | (400) |
| Net interest | (300) |
| Taxation | (1,000) |
| Dividends | (200) |
|
|
|
| Non-current assets | 20,000 |
|
|
|
| Current assets |
|
| Inventories | 5,000 |
| Prepaid Expenses | 1,500 |
| Trade receivables | 3,000 |
| Cash and bank | 500 |
| Current liabilities |
|
| Bank overdraft | 1,650 |
| Trade payables | 6,000 |
| Taxation | 1,000 |
| Dividend (proposed) | 200 |
| Non-current liabilities |
|
| Loan | 1,000 |
| Equity |
|
| Ordinary shares | 4,000 |
| Share premium account | 4,650 |
| Retained earnings | 11,500 |
Required:
Calculate the Acid Test Ratio
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