(b) You are presented with the following summarised accounts for Tomato Co, a limited liability company. Income statement for the year ended 30 June 2021 Net sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense Income before income taxes Income tax expense Net income Statement of Financial Position as at 30 June 2021 Assets Current assets Inventory Accounts Receivables Cash and bank Total current assets Plant and equipment $000 $000 220 70 30 10 110 120 230 Total Assets Equity and liabilities Equity Current liabilities Accounts Payables 30 Accrued Liabilities 20 50 Long-term Liabilities Bank loans 80 Total liabilities 130 Common stock Retained earnings 353 55 45 Total Stockholders' equity 100 Total Liabilities and Stockholders' equity 230 5000 200 (120) 80 (45) (3) 32 (6) 26 The ratios for Tomato Co for previous year 2020 are as follows: Rate of return on total assets (%) 13 Asset Turnover ratio 0.900 Gross profit percentage (%) 42 Profit margin ratio 11 Total assets as at 30 June 2020 ($'000): 170 Required: (i) State clearly the formulae used for each of these 4 ratios, and calculate these ratios for the year ended 30 June 2021. (1) Rate of return on total assets (2) Asset Turnover ratio (3) Gross profit percentage (4) Profit margin ratio (4 marks) (ii) Based on the 4 ratios calculated in (a), interpret the performance of Tomato Co in year 2021. as compared against previous year. (6 marks) (TOTAL 20 marks)