Leagrave Ltd is a wholesaler of bags and accessories that has been operating for a number of years. The ledger of Leagrave Ltd. contains the following account balances as at 31 May 2017, the end of the financial year.

LEAGRAVE Ltd TRIAL BALANCE AS AT 31 MAY 2017	Debit	Credit
Property, at cost	120,000
Equipment, at cost	80,000
Accumulated depreciation (as at 1 June 2016)
on property		20,000
on equipment		38,000
Purchases	235,000
Sales		402,200
Inventory, as at 1 June 2016	50,000
Wages and salaries	58,800
Selling expenses	22,600
Loan interest	5,100
Other operating expenses	17,700
Trade payables		36,000
Trade receivables	38,000
Cash in hand and at bank	1,600
Dividends paid	24,000
17% long-term loan		30,000
Ordinary shares 1, as at 1 June 2016		80,000
Retained profits, as at 1 June 2016		46,600
	652,800	652,800

The following additional information as at 31 May 2017 is available:

Closing inventory has been valued at cost at 42,000.

Depreciation for the year ended 31 May 2017 has still to be charged as follows: Property: 1.5% per annum using the straight-line method

Equipment: 25% per annum using the reducing balance method

Profit and Loss Statement
Particulars	Details $	Amount in $	Particulars	Details $	Amount in $
Opening stock		$ 50,000	sales		$ 402,200
Purchases		$ 235,000
Wages and salaries		$ 58,800
Selling expenses		$ 22,600	Closing Stock		$ 42,000
Loan interest		$ 5,100
Other operating expenses		$ 17,700
Depreciation		$ 12,300
Net Profit		$ 42,700
Total		$ 444,200	Total		$ 444,200
Statement of Changes in Equity
Particulars	Details $	Amount in $	Particulars	Details $	Amount in $
			Opening balance		$ 46,600
Dividend Paid		$ 24,000	Profit		$ 42,700
Closing Balance		$ 65,300
Total		$ 89,300	Total		$ 89,300
Balance sheet
Liabilities and Equity	Details $	Amount in $	Assets	Details $	Amount in $
Share capital		$ 80,000	Property	$ 120,000
Reatined Earnings		$ 65,300	Less : Accu Dep	$ (20,000)
			Less : Current year Dep	$ (1,800)	$ 98,200
			Equipment, at cost	$ 80,000
			Less : Accu Dep	$ (38,000)
Trade payable		$ 36,000	Less : Current year Dep	$ (10,500)	$ 31,500
17% long-term loan		$ 30,000
			Trade receivable		$ 38,000
			Cash in hand		$ 1,600
			Inventory in hand		$ 42,000
Total		$ 211,300	Total		$ 211,300

REGUIRED:

Calculate the following ratios based on the financial statements prepared in Requirement 1):

-ROCE

-Gross profit margin

-Operating profit margin

-Current ratio

-Acid test ratio

-Trade receivable days1

-Trade payable days2

-Inventory days