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The financial statements for Mr Price Group Limited are attached. Only refer to the group figures and not the company figures. The year end is 28 March. You are required to do the financial analyses and financial ratio calculations indicated below. In your answers show your formulae, input numbers and calculations. Mr Price Group is an omni-channel fashion value retailer. The group retails apparel, homeware, and sportswear through owned and franchised stores. Consolidated Income Statements for the year ended 28 March 2020 Group Company Notes 2020 2019 2020 2019 3 23 030 22 385 22 773 21 165 22 568 22 334 20 860 373 22 125 20 572 371 22 023 21797 20 338 373 371 R'm Continuing operations Revenue Retail sales and other revenue Retail sales Interest on trade receivables Income from consolidated entities Premium Income Club fees Airtime and related mobile revenue Other revenue Finance interest income 155 185 247 261 23 677 244 27 257 23 27 780 599 499 181 150 157 124 257 224 260 226 18 807 18364 17 929 19 369 1284 8 12 747 12 207 costs and expenses Cost of sales Seiing expenses Administrative and other operaling expenses 112 890 4519 1 398 4 675 4 119 4271 1.498 1 451 13 966 3 965 3868 (457) 257 2 766 224 4.185 Profit from operating activities Finance costs Finance interest income Profit before taxation Taxation Net profit from continuing operations Discontinued operations Net loss from discontinued operations for the period Not profit for the period 3 761 418) 260 3603 1035 2 568 13 226 4091 1 TB 1 145 1053 2 713 3009 2946 12 (9) 2 704 2.982 2 568 2 9446 9. How has the current ratio changed from 2019 to 2020 [2 marks] 10. Calculate the finance charges cover ratio for 2020. Describe two uses of this ratio. [2 marks] 11.Describe the underlying factors which have caused the change in the RoE from 2019 to 2020 based on your above calculations. [3 marks] Consolidated Statements of Financial Position as at 28 March 2020 Group Company 2020 Notes 2019 2020 Rim 2019 2 655 2 117 2 629 2 027 7 110 2137 4 362 490 6 687 2051 3 971 462 423 391 143 14 17 15 32 18 23 27 143 40 4 25 55 41 64 4 55 1 64 11 Assots Non-current assets Property, plant and equipment Right-of-use asset Intangible assets Consolidated entities Long-term receivables and other investments Defined benefit fund asset Deferred taxation assets Current assets Inventories Trade and other receivables Derivative financial instruments Reinsurance assets Current amounts owing by consolidated entities Taxation Cash and cash equivalents Non-current asset held for sale Total assets 10 244 2719 2 268 342 182 8 481 2 692 2 179 27 304 9 618 2 524 2 182 342 182 109 2 470 2 096 27 8 9 19 11 32 133 12 304 356 643 7 4 726 4 3 275 4032 2 569 16 9 17354 11 145 16 305 10738 9428 B 682 8 852 8 177 28 29 30 316 (1 534) 10 545 (142 270 (2222) 10 561 323 2 204) 10 041 369 (1 474 9 902 (132) 3) 20 31 23 19 (9 247 (3) 20 247 Equity and liabilities Equity attributable to equity holders of the parent Issued capital Capital reserves Treasury share transactions Retained Income Foreign currency translation reserve Defined benefit fund actuarial gains and losses Cash flow hedge reserve Total equity Non-current abilities Lease obligations Lease liabalties Deferred taxation liabilities Long-term provisions Long-term liabilities Post retirement medical benefits 9 428 8 682 8 852 8177 4 032 3 684 289 190 271 177 20 4 014 3 666 46 52 20 27 21 22 11 11 31 11 31 23 18 18 3 894 2 296 2 174 1920 3 768 2 225 2 290 1 850 46 46 46 46 207 68 Current liabilities Trade and other payables Derivative financial instruments Reinsurance labilities Current amounts owing to consolidated entities Current provisions Current portion of lease obligations Current portion of lease liabilities Taxation Bank overdrant 10 19 11 32 21 20 20 13.3 12 13 33 29 . 1 027 525 917 513 37 125 33 125 Total liabilities Total equity and liabilities 7 926 17 354 2 463 11145 7452 16 305 2 561 10 738 less than R1 milion Represented for reclassifications