12.5* You are presented with the following summarized accounts:

Required:
Calculate the following accounting ratios:
1 return on capital employed;
2 gross profit;
3 mark up;
4 net profit;
5 acid test;
6 fixed assets turnover;
7 debtor collection period; and 8 capital gearing.

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James Ltd Profit and loss account for the year to 28 February 2009 000 Sales (all credit) 1200 Cost of sales 600 Gross profit 600 Administrative expenses (500) Debenture interest payable (10) Profit on ordinary activities Taxation Dividends Retained profit for the year 90 (30) 60 (40) 20