INSTRUCTIONS AND INFORMATION: Steward (Pty) Ltd is a family-owned clothes manufacturer. For twenty years, the managing director was Nick Steward. During his period as managing director of the business, sales revenue had grown steadily at a rate of 2 to 3 per cent each year. Nick retired on 30 November 2020 and was succeeded by his son Louis. Soon after taking office, Louis decided to expand the business. Within weeks he had successfully negotiated a five-year contract with a large clothes retailer to make a range of sports and leisurewear items. The contract could result in an additional R4 million in sales revenue during each year of the contract. To fulfil the contract, Steward (Pty) Ltd acquired new equipment and premises. ADDITIONAL INFORMATION: Steward (Pty) Ltd Extract from the statement of profit or loss and other comprehensive income for the year ending 31 December 2021 Steward (Pty) Ltd Statement of financial position on 31 December 2021 IMPORTANT: - Assume 365 days in a year. - Round off your ratio calculations to two decimal points for interpretation purposes. - Carefully study all the information provided to answer the multiple-choice questions on eFundi