a) The Statement of Financial Position reports a company' assets, liabilities and equity; < Required Using example discuss the definition of current assets and non current assets < t 20 marks b) Micondren Ltd has been experienced profitability issues in the past year. The Financial Statements for the years ended 31 December 2019 and 2019 for company are shown below. < t 2019 2018 Revenue Cost of sales 600+ 450 2 (300) (262) Gross Profit 3000 188 Operating expenses (150) (112) 2 Operating profite 150 76 Interest (30) (8) Profit before tax 120 68(2 Taxation (45) Profit for the year 75 (22) 46 t 2019 2018 Non-current assets Current assets Inventory 150 Trade receivables 48 Cash Total Current assets Total assets F Equity Non-current liabilities Current liabilities Total equity and t t t L t 3 L liabilities e t 900+ t t L t L 660e 180(P 33 L t t t 2 12 2 198 1,098 t P 8264 150 1224 1,098 tttt tt 2220 2 8820 0 2 796 2 38 e 48 12 882 tttttttt ttttttttttt Required: i) Calculate the following ratios for each of the two years: Return on capital employed Net Profit Margin Gross Profit Margin 18 marks ii) Comment on the financial performance of the company based on these ratios to show if the efforts made improved results in the last two years. 12 marks Total 30 marks Total 50 marks