List of closing Balances of Agnes Trading Account Sales Opening inventory Purchases Closing inventory Depreciation Water and electricity expenses Rent Rates & Insurance Salaries & wages Office expenses Advertising Capital Drawings Discount received Equipment at cost Accumulated depreciation on equipment Debtors 31 May 2020 130,000 95,000 50,000 15,000 1,000 3,000 2,400 4,500 4,000 1,800 128,700 6,000 4,200 12,000 800 8,000 21,000 31 May 2021 208,000 86,000 91,000 17,500 3,000 2,400 1,500 3,400 1,100 2,600 64,300 7,000 3,500 15,000 500 7,400 18,000 3,600 Bank Creditors 2,400 Sales returns 400 700 Premises 57,000 62,000 Questions: 1. Given the below list of closing balances of Agnes Trading, calculate the following ratios for 2020 and 2021: 2.1. ROCE (2 x 2 marks) 2.2. GP as % of sales (2 x 2 marks) 2.3. NP as % of sales (2 x 2 marks) 2.4. Stock turnover (in months) (2 x 2 marks) 2.5. Current ratio (2 x 2 marks) 2.6. Acid test ratio (2 x 2 marks) 2.7. Debtor / Sales ratio (2 x 2 marks) 2.8. Creditor/ Purchases ratio (2 x 2 marks) 2.9. Expenses as percentage of sales (2 x 2 marks) 2.10. Working capital (2 x 2 marks) 2. Given the relevant ratios of the firm, which financial year would you consider to be more liquid? Support your option