10. The following are the financial statements of Orchid Palace Orchid Palace Statement of Comprehensive Income for the year ended 31 December 2015 RM RM RM Opening Inventory 550.000 Sales 2,500,600 Add Purchases 1.300.000 Less Sales Returns 35,000 Add Transportation Inwards 100,000 Less Purchases Returns 80,000 1.320,000 Cost of Goods Available for Sale 1,870,000 Less Closing Inventory 380,700 Cost of Goods Sold 1,489,300 Gross Profit cld 976,300 2,465,600 2,465,600 Salesmen's Salaries 160,000 Gross Profit 976,300 Distribution Expenses 128,000 Net Loss 48,700 20,000 Administrative Expense 97.000 Depreciation of Equipment 25,000 0.00 Depreciation of Land & Buildings Marketing Expenses 85,000 Consultancy Expenses 100,000 Salaries and Wages Expense 350,000 Net Operating Expenses 1,015,000 Interest Expenses 10,000 1,025,000 1,025,000 1,025,000 *All sales were on credit basis. Electricity and Water 50,000 Orchid Palace Statement of Financial Position as at 31 December 2015 RM RM RM RM Non-current Assets Owner's Equity Land & Buildings 1,700,000 Capital, beginning 1,300,000 Less Provision for Less Net loss 48,700 Depreciation 380,000 1,320,000 1.251,300 Office Equipment 850,000 Less Drawings 80,000 Less Provision for Capital, ending 1,171,300 Depreciation 250,000 600,000 1,920,000 Long-term Liabilities Bank Loan 1,000,000 380,700 Accounts Receivable Current Liabilities 219,600 960,300 709,000 Accounts Payable 2,880,300 2.880,300 Current Assets Inventory 360,000 Bank & Cash Required: Calculate the following ratios for Orchid Palace. i. Current Ratio ii. Quick Ratio iii. Inventory Turnover Ratio iv. Average Collection Period V. Non-current Assets Turnover Ratio vi. Total Assets Turnover Ratio to lo vii. Debt Ratio viii. Times Interest Earned Ratio ix. Debt-to-Equity Ratio X. Gross Profit Margin xi. Net Profit Margin SOBRE xii. Return on Assets Ratio