On 1 October 2001 Manny Kyoor and his wife formed a limited company, Kyoor Ltd, to run a beautician's business, and each paid in $37 500 as share capital. The bank loaned the company a further $80 000 at 9% interest per annum. 

At 30 September 2002 the business's final accounts were drawn up as follows.

Industry average ratios and other relevant data concerning businesses similar to Kyoor Ltd were as follows.

(a) Calculate each of the above ratios, to 2 decimal places, for Kyoor Ltd. 

(b) Comment on the business's performance in the light of the data for the industry.

It is not sufficient to say that a ratio is higher' or 'lower than the industry average - it must be made clear whether you think it is better or worse than the industry average and you must give reasons for your comments.

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Trading and Profit and Loss Account for the year ended 30 September 2002 Sales and fees Less Cost of sales Stock bought on 1 October 2001 Purchases Stock at 30 September 2002 Gross Profit Less Expenses Rent and Rates Advertising Wages Heat and Light Interest due Depreciation Net Profit $31 500 $280 000 $311 500 $66 500 $350 000 $245 000 $105 000 $3 950 $1 750 $29 000 $5 250 $7 200 $12.000 $59 150 $45.850