)Extract from the financial statements of PEGIT, a brewing company, for the years ended 31st December 2016 and 2017 are as follows: There is no debt in PEGIT's accounts. Calculates performance rations for PEGIT and comment on its performance in 2017 as compared to 2018. (LO2) 2016 2017 Revenue 3,400 3,620 Cost of sales (1,200) (1,420) Gross profit 2,000 2,200 PBIT 1,150 1,300 Share capital 100 100 Retained earnings 2,300 3,150 Revaluation reserve - 500 2,400 3,750 a) (ii) Briefly enumerate and discuss the limitations of financial statements analysis. (6 marks) (LO2) b) (i)In relation to external audit, describe the following: rights of auditor responsibilities of auditors