b) The following ratios have been extracted from the financial statements of TSL Ltd for the two years ending 30 November: Details 2012 2011 Return on investment 28% 25% Gross profit ratio 43% 45% Net profit ratio 9% 11% Trade receivables collection period 42 days 45 days Inventory turnover ratio 8 times 6 times Gearing ratio 60% 25% Current ratio 3.2:1 2.5:1 Liquidity ratio 0.8:1 1.5:1 Interest cover ratio 9 times 2 times Earnings per share Shs 180 Shs 200 Required i) Show how each of the above ratios were calculated.(15 marks) ii) Interpret the above ratios for the two years.(15 marks)