As at As at 30/9/16 30/9/15 S S Assets Current assets- Cash 8,200 9,400 Accounts Receivable 107,000 103,500 Inventory 82.700 71,300 Non-current assets less accumulated 242,600 245,700 depreciation Total assets 440,500 429,900 Liabilities and Owners' equity Current liabilities 117,000 120,000 Loan (repayable in 2019) 152,000 150,000 Total liabilities 269,000 270,000 Owners' equity 171,500 159,900 Total Liabilities and Owners' equity 440,500 429,900 Summarised Income Statement of Bishan Enterprise for the year ended 30 September S 2016 Sales 990,000 Cost of goods sold 580,000 Gross profit 410,000 Operating expenses 350,000 Net profit 60,000 Note - The owner withdrew $48,400 during 2016. Balance Sheet as at Required: Calculate the following ratios for the year ending 30 September 2016. i) Gross profit margin ratio (%) ii) Operating expense to sales ratio (%) ii) Current ratio (times) iv) Average collection period (days) v) Average Inventory turnover (times) (2 marks) (2 marks) (2 marks) (2 marks) (2 marks)