Gce Model Questions Vol1 2017 Financial Accounting Question 22

XYZ Ltd prepared its trial figures for the year ended 31 December 2022 (all figures in \(\text{₦}\) thousands).\n\n- Sales revenue: \(1,200\)\n- Opening stock: \(300\)\n- Purchases: \(500\)\n- Closing stock: \(350\)\n- Operating expenses (excluding depreciation): \(180\)\n- Depreciation on plant and equipment (straight‑line): \(40\)\n- Interest expense: \(20\)\n- Tax rate: \(30\%\)\n- Capital employed at year‑end: \(800\)\n\nAdditional adjustments:\n- An accrued utilities expense of \(15\) not recorded.\n- A doubtful‑debt provision of \(10\) created.\n\nPrepare the profit‑and‑loss account to determine the net profit after tax, then calculate the return on capital employed (ROCE) defined as \(\frac{\text{Net profit before interest and tax}}{\text{Capital employed}}\times 100\). Give the ROCE to one decimal place.