B. Morning star plc. is a manufacturer of computer accessories. The following are selected items appearing in the income statement and balance sheet for the year ended December 314, 2015. Income Statement Net Sales Less: Cost of Goods Sold Gross Profit Selling and general expenses Net Operating profit Interest expenses Net Profit before ta Income tax Net profit for the year 500,000 250,000 250,000 120,000 130,000 20,000 110,000 30,000 80,000 Cash and short-term investments Receivables Inventories Property, plant & Equipment Total Assets Total current liabilities Total Non-current liabilities Shareholder's Equity $10 par Retained Earnings Total Liabilities and Equity 10,000 46,000 60,000 300,000 416,000 25,000 11,000 220,000 160,000 416,000 Required: Using the information above, compute the Company's ratio below and comment on each: a. Current ratio b. Asset Turnover C. EPS d. Interest cover e. Gearing ratio (10 Ma End of Assessment