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Principles of Aunty I (ACC 220: Final Dramination QUESTION 3: (10 MARKS) Al-jurf-logistics LLC was established in the year 2000 and has since become one of the leading transportation companies in the UAE. The company offers a one-stop center for all logistic needs with offices all over the Emirates. The recent financial statements of Al- Jurf-Transport appear below: AL-JURF-TRANSPORT Comparative Statement of Financial Position As of December 31 Assets Cash Short-term investments Accounts receivable (net). Inventory 2020 2021 AED 30,000 AED 40,000 30,000 60,000 60,000 80,000 80,000 70,000 260.000 400.000 AED460.000 AED650.000 Property, plant and equipment (net) Total assets AED 40,000 AED 30,000 40,000 110,000 Liabilities and stockholders' equity Accounts payable Short-term notes payable 270,000 320,000 110.000 190.000 AED 460,000 AED650.000 Common stock Retained earnings Total liabilities and stockholders' equity AL-JURF-TRANSPORT Income Statement For the Year Ended December 31, 2021 AED850,000 675,000 175,000 AED52,000 20.000 72.000 103,000 23.000 AED 80.000 Net sales. Cost of goods sold Gross profit Expenses Operating expenses. Interest expense. Total expenses. Income before income taxes. Income tax expense.. Net income..... Prindiples of Accounting II (ACC 220): Final Examination Additional Information: All sales transactions were on credit. Cash dividends of AED15,000 were declared and paid in 2021. Weighted average number of shares of common stock outstanding during 2021 was 50,000 shares. Market value of the common stock on December 31, 2021, was AED15.20 per share (10 marks) REQUIRED: Compute the following ratios for 2021 and briefly interpretare ures Selet +6 Showt tean ines a Acid Test Ratio b. Inventory turnover c Profit Margin d. Return on ordinary shareholder's equity e Debt to asset ratio END OF QUESTION PAPER