calculate the following ratios:

- Current ratio

- Acid test ratio

- Inventories turnover period in days

- Average settlement period for trade receivables

- Average settlement period for trade payables

Bowness Ltd was incorporated 4 years ago and has grown rapidly since then. The rapid rate of growth has created problems for the business, which the directors have found difficult to deal with. Recently, a firm of management consultants has been asked to help the directors to overcome these problems. In a preliminary report to the board of directors, the management consultants state: "Most of the difficulties faced by the business are symptoms of an underlying problem of overtrading". The most recent financial statements of the business are set out below: All purchases and sales were on credit. A dividend was paid during the year on ordinary shares of 2000. Bowness Ltd was incorporated 4 years ago and has grown rapidly since then. The rapid rate of growth has created problems for the business, which the directors have found difficult to deal with. Recently, a firm of management consultants has been asked to help the directors to overcome these problems. In a preliminary report to the board of directors, the management consultants state: "Most of the difficulties faced by the business are symptoms of an underlying problem of overtrading". The most recent financial statements of the business are set out below: All purchases and sales were on credit. A dividend was paid during the year on ordinary shares of 2000