EOC Ltd is a listed company and has presented the below abridged financial statements below. Statement of Profit and Loss ₹ ₹ Sales 1,25,00,000 Cost…

EOC Ltd is a listed company and has presented the below abridged financial statements below. Statement of Profit and Loss ₹ ₹ Sales 1,25,00,000 Cost of goods sold (76,40,000) Gross Profit 48,60,000 Less: Operating Expenses Administrative Expenses 13,20,000 Selling and Distribution Expenses 15,90,000 (29,10,000) Operating Profit 19,50,000 Add: Non-Operating Income 3,28,000 Less: Non Operating Expenses (1,27,000) Profit before Interest and taxes 21,51,000 Less: Interest (4,39,000) Profit before tax 17,12,000 Less: Taxes (4,28,000) Profit after Tax 12,84,000 Balance Sheet Sources of Funds ₹ ₹ Owned Funds Equity Share Capital 30,00,000 Reserves and Surplus 18,00,000 48,00,000 Borrowed Funds Secured Loan 10,00,000 Unsecured Loan 4,30,000 14,30,000 Total Funds Raised 62,30,000 Application of Funds Non-Current Assets Building 7,50,000 Machinery 2,30,000 Furniture 7,60,000 Intangible Assets 50,000 17,90,000 Current Assets Inventory 38,60,000 Receivables 39,97,000 ST investments 3,00,000 Cash and Bank 2,30,000 83,87,000 Less: Current Liabilities Creditors 25,67,000 ST loans 13,80,000 (39,47,000) Total Funds Employed 62,30,000 The company has set certain standards for the upcoming year financial status. All the ratios are based on closing figures in financial statements. Equity SC to Reserves= 1 Net Profit Ratio= 15% Gross Profit Ratio= 50% Long Term Debt to Equity= 0.5 Debtor Turnover= 100 Days Creditor Turnover (based on COGS)= 100 Days Inventory= 70% of Opening inventory Cash Balance is assumed to remain same for next year You are required to - (1) CALCULATE inventory turnover ratio in days for current year (2) CALCULATE receivables turnover ratio in days for current year (3) CALCULATE the projected receivables, inventory, payables and long term debt