AEC Ltd reported the following information in its financial statements:

	2022	2021
	$	$
Sales Revenue	700,200	650,000
Cost of Sales	422,000	474,500
Net Profit	82,000	58,000
Total Current Assets	161,300	144,400
Total Non-current Assets	440,700	370,800
Total Current Liabilities	75,400	80,100
5 year 10% Debentures	110,600	125,900
Share Capital	340,000	300,000
General Reserve	10,000	10,000
Retained Earnings	175,000	95,000

The company does not have any inventory on hand in 2021 or 2022 but has total prepaid expenses amounting to $51,400 in 2021.

Required:

Using the above information calculate the following financial ratios to two decimal places. Provide a formula and show your workings for each ratio.

a) Gross profit margin for 2022 (1 mark)

b) Debt to assets for 2022 (1 mark)

c) Quick Ratio for 2021 (1 mark)

d) Return on Ordinary Shareholders Equity for 2022 (1 mark)