Additional questions 1. The condensed results from the books of The Green Basket for the year 2016 were as follows: Fixed assets 475,000 Capital & reserves 475,000 10% Loan 125,000 Current assets Stock Debtors Bank Current liabilities 45,000 75,000 55,000 175,000 650,000 50,000 650,000 Sales Gross profit PBIT 820,000 410,000 300,000 Additional information: 1. There are no preference shares in issue 2. Tax rate is 20%, to be charged on profit before tax 3. All sales are made on credit terms Data available from the industry report included the following: 2.73:1 1.02:1 Current ratio Acid test ratio Debtors turnover Net profit margin Return on assets Return on capital employed Gearing Stock turnover Total assets to total liabilities 32.22% 40.94% 8.65 times 22.02% 32.86% 6.21 times 2.23:1 Required: a. Calculate the corresponding ratios to the industry for Green Basket. b. Using the industry averages stated above, comment on the performance of Green Basket in relation to the industry