Damai Nanggala Sdn. Bhd. is operating a joint venture business to supply furniture to local government offices. The following are the comparative financial information related to its operations for two years ended on 31 December 2020 and 2019: Damai Nanggala Sdn. Bhd. Comparative Statement of Profit or Loss and Other Comprehensive Income for the Years Ended 31 December 2020 and 2019 2020 RM Sales Cost of goods sold Gross profit Selling expenses Administrative expanses Store operating expenses Total operating expenses Income from operations Other income Other expense (interest) Profit before income tax Income tax expense Net income Assets Current assets Cash Temporary investment Account receivable Inventories Prepaid expenses Total current assets Non-current assets Long-term investments 599,200 417,200 182,000 Damai Nanggala Sdn. Bhd. Comparative Statement of Financial Position As of 31 December 2020 and 2 2019 Property, plant and equipment Intangible assets Total non-current assets 76,400 41,600 4,000 122,000 60,000 3,400 2,400 61,000 28,600 32,400 2020 RM 36,200 30,000 46,000 105,600 2,200 220,000 38,000 177,800 20,000 235,800 2019 RM 480,000 328,000 152,000 58,800 38,960 4,800 102,560 49,440 4,400 4,800 49,040 23,240 25,800 2019 RM 25,880 24,000 48,000 113,200 2,120 213,200 71,000 188,000 20,000 279,000 Total assets Liabilities Current liabilities Long-term liabilities Total liabilities Stakeholders' equity Preferred 6% stock Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity (a) BKAF1023 INTRODUCTION TO FINANCIAL ACCOUNTING (b) (i) Acid Test Ratio (ii) Debt Ratio (iii) Return on Total Assets 911,600 END OF QUESTIONS 84,000 40,000 124,000 60,000 200,000 71,800 331,800 911,600 984,400 REQUIRED: Prepare horizonal analysis on the Statement of Profit or Loss and Other Comprehensive Income for Damai Nanggala Sdn. Bhd. for 2020 and 2019 (round your answer to two (2) decimal places). (12 Marks) Calculate the following ratios for the year 2020 (round your answer to two (2) decimal places): 97,200 80,000 177,200 60,000 200000 55,000 315,000 984,400 (3 Marks)