Lindy Oakley provides you with the following information regarding her wedding rental business, Oakley's Weddings Made Easy. She is considering purchasing a computer system to catalogue and record all inventory movement electronically and want you to review the financial information, assessing the financial health of the business in order to assist her in making more informed decisions regarding the planned changes. Equipment Less: Liabilities Current Bank overdraft 3578 AccruedAdvertisingexpenses62435952 Creditorscontrol15862256831161617568 Non current Mortgage 56250 6750067500 Total liabilities 81933 85068 Net Assets 268691 336801 Income Statement for the year ending 30 June 2018 and 30 June 2019 30 June 2018($) 30 June 2019($) Revenue Sales revenue 465615 428625 Less: Cost of goods sold Opening Stock \begin{tabular}{rrrr} 76972 & \multicolumn{1}{r}{69975} \\ 270450 & & 253125 \\ 13217 & & 11925 \\ 69975 & 290664 & 70875 & 264150 \\ & 174951 & & 164475 \end{tabular} + Purchases + Store staff wages - Closing Stock Gross profit Plus: Other revenue Discount received Interest received 122414202644177595 1295 Total income 14732768 Less: Selling Expenses: Advertising \begin{tabular}{rrrr} 12822 & & 11475 & \\ 1645 & 14467 & 1314 & 12789 \\ \hline \end{tabular} Less: Administrative Expenses: Electricity Less: Finance Expenses: Interest Paid Discount allowed 144302427129372025 a) Use the information provided on the comparative Income statements and Balance Sheets to calculate the missing financial ratios to 2 decimal points. Net Profit Margin 19.65%21.14% Working Capital Ratio: Current Assets Current Liabilities Debtors' Turnover: Net Credit Sales times times Average Debtors control days days Inventory Turnover Ratio Debt/Equity Ratio: Liabilities 100% Average owners' equity % % Use the ratios in Part a and write an email to Lindy about the following: a) The current profitability situation of the business (5) b) The Liquidity position of the business (5) Lindy Oakley provides you with the following information regarding her wedding rental business, Oakley's Weddings Made Easy. She is considering purchasing a computer system to catalogue and record all inventory movement electronically and want you to review the financial information, assessing the financial health of the business in order to assist her in making more informed decisions regarding the planned changes. Equipment Less: Liabilities Current Bank overdraft 3578 AccruedAdvertisingexpenses62435952 Creditorscontrol15862256831161617568 Non current Mortgage 56250 6750067500 Total liabilities 81933 85068 Net Assets 268691 336801 Income Statement for the year ending 30 June 2018 and 30 June 2019 30 June 2018($) 30 June 2019($) Revenue Sales revenue 465615 428625 Less: Cost of goods sold Opening Stock \begin{tabular}{rrrr} 76972 & \multicolumn{1}{r}{69975} \\ 270450 & & 253125 \\ 13217 & & 11925 \\ 69975 & 290664 & 70875 & 264150 \\ & 174951 & & 164475 \end{tabular} + Purchases + Store staff wages - Closing Stock Gross profit Plus: Other revenue Discount received Interest received 122414202644177595 1295 Total income 14732768 Less: Selling Expenses: Advertising \begin{tabular}{rrrr} 12822 & & 11475 & \\ 1645 & 14467 & 1314 & 12789 \\ \hline \end{tabular} Less: Administrative Expenses: Electricity Less: Finance Expenses: Interest Paid Discount allowed 144302427129372025 a) Use the information provided on the comparative Income statements and Balance Sheets to calculate the missing financial ratios to 2 decimal points. Net Profit Margin 19.65%21.14% Working Capital Ratio: Current Assets Current Liabilities Debtors' Turnover: Net Credit Sales times times Average Debtors control days days Inventory Turnover Ratio Debt/Equity Ratio: Liabilities 100% Average owners' equity % % Use the ratios in Part a and write an email to Lindy about the following: a) The current profitability situation of the business (5) b) The Liquidity position of the business