13. Using the ratio formulas that were included in the lecture videos (reproduced in the Appendix on page 7 to this examination paper), from the following information calculate the ratios below. Enter your answers in the space provided. Show your calculations for each answer Note: to calculate to the nearest day, round up 0.5 and above, round down anything below that to calculate to 2 decimal places, round up 0.005 and above, eg. 3.565 = 3.57 but 3.564 = 3.56 000s Sales (70% on credit) 7,000 Inventory at 31/12/2019 1,000 Purchases 4.200 Inventory at 31/12/2020 1,200 Cost of sales Trade receivables at 31/12/2019 1,400 Trade receivables at 31/12/2020 1,100 Share capital 5,000 Reserves 2,000 Non-current liabilities 3,000 Operating profit 1,500 Current assets 6,500 Current liabilities 3.100 100 days (a) Average inventories turnover period to the nearest day 65 days (b) Average settlement period for trade receivables to the nearest day 15% (C) Return on capital employed to 2 decimal places 210 (d) Current ratio to 2 decimal places 1171 (e) Acid test ratio to 2 decimal places