\begin{tabular}{|l|l|} \hline STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022 \\ \hline & R \\ \hline Sales & 2304000 \\ \hline Cost of sales & (1228000) \\ \hline Gross profit & 1076000 \\ \hline Other operating income & 84000 \\ \hline Gross income & 1160000 \\ \hline Distribution expenses & (260000) \\ \hline Administrative expenses & (104000) \\ \hline Earnings before interest and tax & 796000 \\ \hline Interest income & 68000 \\ \hline Interest expense & (92000) \\ \hline Earnings before tax & 772000 \\ \hline Company tax & (184000) \\ \hline Earnings after interest and tax & 588000 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline Long-term borrowings & 1000000 & 1600000 \\ \hline Current liabilities & 532000 & 556000 \\ \hline Accounts payable & 440000 & 492000 \\ \hline Company tax payable & 92000 & 64000 \\ \hline Total equity and liabilities & 2984000 & 2860000 \\ \hline \end{tabular} REQUIRED Use the information provided in Question 1 to answer the following questions: 2.1 Calculate the following ratios for 2022 only. Express the answers to two decimal places. 2.1.1 Net profit margin 2.1.2 Average collection period (Use 360 days.) 2.1.3 Inventory turnover 2.1.4 Acid-test ratio 2.1.5 Debt to assets 2.1.6 Return on equity 2.1.7 Earnings yield 2.2 Comment on the return on equity calculated in question 2.1.6. (2 marks) ( 2 marks) ( 2 marks) ( 2 marks) ( 2 marks) (2 marks) ( 2 marks) (4 marks) 2.3 Refer to the appropriate ratio in question 2.1 and explain whether the company will be able to pay its short-term debts when business conditions are not favourable. ( 2 marks)