David is grateful for the financial statements that you have prepared for him and wants to know if you could provide a further analysis and explanation of these statements. He is also curious how his new business is doing compared to his main competitor in the industry. You suggest that you could calculate some key financial ratios from his financial data and compare that with his competitor JB Ltd. You return with your analysis, prepared to answer any questions. MicroSystems Statement of Financial Performance For the month ended 31 July 2021 Sales revenue Less: Cost of sales Gross Profit $ 58,750 30,650 28,100 Less operating expenses: Advertising 2,800 Cleaning expense 140 Doubtful debts expense 1,714 Depreciation expense 375 Electricity expense 1,900 Insurance expense 350 Maintenance & repairs 230 Rent expense 5,000 Telecommunications expense 850 Training expense 120 Wages expense 2,850 16,329 Operating profit Interest expense Net profit 11,771 300 11,471