Please answer the following questions and show your equations and workings used. Noted that the year on the balance sheet on the left in 20x3. Not 20x2 ! Thank you

The following are the financial statements of E Ltd for the years ended 31 March 20x2 and 20x3. Balance sheets as at 31 December 20x3 $'000 $'000 280 $'000 20x2 $'000 315 Non current assets, at net book value Current assets Stock Debtors Bank 790 240 120 360 Total assets 675 100 Equity Share capital Reserves 85 185 Long term liabilities 8% Debentures (issued in 20x0) 240 Current liabilities Creditor's Bank overdraft Sa 250 675 Total equity and liabilities Income statements for the years ended 31 March 20x3 $'000 $'000 $'000 2012 $'000 1,500 700 Sales Opening stock Purchases 240 1.150 1.390 _290 200 1.090 1,290 240 1,100 Less: Closing stock Cost of sales Gross profit Less: Operating and finance costs Net profit Taxation Net profit after taxation 1,050 450 270 180 20 160 REQUIRED: (a) Calculate to one decimal place the following ratios for E Limited for both years 20x2 and 20x3. Show workings. (64 marks) (i) Acid test ratio; Current ratio; (iii) Creditors' repayment period (in days); (iv) Debtors' collection period (in days); (v) Gearing ratio; (vi) Gross profit to sales percentage; (vii) Net profit (before interest and taxation) to sales percentage; and (viii) Return on capital employed (b) Comment on the performance of E Limited over the two year period using the ratios calculated in (a) in terms of: (36 marks) (i) (ii) (iii) Liquidity Long term solvency/risk Profitability