Additional information Turnover for the year ended 31 December 2022 amounted to R12000000. The gross profit percentage is 25% Half of the turnover is credit sales and 75% of purchases are credit purchases. REQUIRED: Calculated the following ratios for the year ended 31 December 2022. 3.1 Debt ratio 3.2 Current ratio 3.3 Quick ratio 3.4 Debtors' collection period 3.5 Creditors payment period 3.6 Debt to equity ratio QUESTION FOUR (15 Mark Star (Pty) Ltd purchased new equipment to replace equipment that it has used for five years. The company paid a net purchase price of R200 000, brokerage fees of R5 000 , legal fees of R2 000 , and freight and insurance in transit of R3 000. In addition, the company paid R1 500 to remove old equipment and R2 000 to install new equipment. Calculate the cost of new equipment for Star (Pty) Ltd and process the journal entry to record the purchase of the equipment paying R70,000 in cash. Additional information Turnover for the year ended 31 December 2022 amounted to R12000000. The gross profit percentage is 25% Half of the turnover is credit sales and 75% of purchases are credit purchases. REQUIRED: Calculated the following ratios for the year ended 31 December 2022. 3.1 Debt ratio 3.2 Current ratio 3.3 Quick ratio 3.4 Debtors' collection period 3.5 Creditors payment period 3.6 Debt to equity ratio QUESTION FOUR (15 Mark Star (Pty) Ltd purchased new equipment to replace equipment that it has used for five years. The company paid a net purchase price of R200 000, brokerage fees of R5 000 , legal fees of R2 000 , and freight and insurance in transit of R3 000. In addition, the company paid R1 500 to remove old equipment and R2 000 to install new equipment. Calculate the cost of new equipment for Star (Pty) Ltd and process the journal entry to record the purchase of the equipment paying R70,000 in cash