The following are the summarised financial statements of Leavitt Ltd for the years 2022 and 2023.

Extract of Income Statements for the years ended 30^th June 2022 and 2023

Statements of Financial Position as of 30^th June 2022 and 2023

Required

1. Calculate the following ratios for 2022 and 2023
2. 1. Gross profit margin
3. 2. Operating profit margin
4. 3. Current ratio
5. 4 . Acid test ratio
6. 5 . Inventory days

Industry benchmarks used by Leavitt Ltd are:

  

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Sales Cost of Sales Gross Profit Administration Costs Distribution Costs Operating Profit 2022 £ 1,200 10,800 £ 96,000 72,000 24,000 12,000 12,000 24 2023 3,600 7,200 £ 144,000 115,200 28,800 10,800 18,000 Sales Cost of Sales Gross Profit Administration Costs Distribution Costs Operating Profit 2022 £ 1,200 10,800 £ 96,000 72,000 24,000 12,000 12,000 24 2023 3,600 7,200 £ 144,000 115,200 28,800 10,800 18,000