please assist with the following

Exquisite Furniture (Pty) Ltd is a furniture shop based in Gauteng. It opened its doors in 2013 and has been growing ever since. It has increased its online presence since the Covid-19 pandemic, as many customers had to shop online. The curfews during the pandemic triggered customers to purchase furniture for their homes. It has six stores across Gauteng. Before Covid, it intended to expand and establish new stores in other provinces, starting with the Western Cape. However, the pandemic made the company realise that people could still purchase furniture via their online store. Their main aim is now to increase and build their online store. Exquisite Furniture rents their six stores but owns their manufacturing and distribution plant where they manufacture their furniture and receive their imported furniture. They also own vehicles, computers, and office furniture. Their furniture is produced locally at their plant while some of their furniture is imported from China for resale. Exquisite Furniture sells its furniture both on credit and for cash. They also offer after-sales service to assemble the furniture where necessary. Exquisite Furniture purchases their furniture supplies from suppliers on credit but also have some suppliers who require cash payments. They purchase the furniture in-store or online with the option to also customise the furniture to their own liking. They also shop and pay for the goods and services on receipt or per order. Exquisite Furniture is a company that strives to keep cutting costs and improve their returns. They also aim to be innovative and, as a result, offer unique and innovative furniture to their customers. They are currently looking for ways to expand and improve their online store so that they can offer their customers a world-class service and experience. The financial Information for the 2023, 2022 and 2021 financial years for Exquisite Fumlture (Pty) Ltd Is given below. Exquisite Fumiture (Pty) Ltd Statement of Financial Position as at 31 December 2023 ASSETS Non-current assets Property, plant and equipment Right-of-use assets Current assets Inventory Accounts receivable Cash and cash equivalents Total assets EQUITY AND LIABILITIES Shareholders' equity Share capital Retained income Non-current liabilities Long-term loan d. Return on assets e. Debtors' collection period f. Current ratio g. Total debt ratio h. Interest cover Required: 2023 R'm 516 ooo 500 000 16 ooo 322 ooo 152 ooo 69 ooo 101 ooo 838 ooo 359 000 100 000 259 ooo 150 ooo 150 ooo 2022 R'm 425 ooo 400 ooo 25 ooo 281 400 124 ooo 89 400 68 ooo 706 400 365 ooo 100 ooo 265 ooo 105 ooo 105 ooo Current liabilities Accounts payable Tax Payable Total equity and llabllltles 329 ooo 110 ooo 219 ooo 838 ooo 236 400 89 ooo 147 400 706 400 167 800 78 ooo 89 800 508 800 Exqulslte Furniture (Pty) Ltd Sutement of Profit or Loss and Other Comprehensive Income for the year ending 31 December 2023 2021 R'm 310 ooo 300 000 10 ooo 198 800 101 200 56 600 41 ooo 508 800 252 ooo 80 ooo 172 000 89 ooo 89 ooo 71.55% 28.24 days 1.19 48.33% 129.59 times Revenue Cost of goods sold Gross profit Rental income Expenses Salaries Advertising Operations Profit before interest and tax (EBIT) Less: Interest expense Profit before taxation Less: Taxation Net profit Additional infomation: 80% of sales are on credit in 2023, 2022. All purchases are on credit. There are 365 days in the year. The ratios for 2022 are shown below. Ratlo a. Gross margin b. Net margin c. Creditors' payment period 2023 6 ooo 482 ooo 674 ooo 3 800 31 800 19 500 3 600 8 700 646 ooo 5 700 640 300 192 090 448 210 2022 R'm 1 110 ooo 586 ooo 524 ooo 2 900 21 500 505 400 3 400 4 600 505 400 3 900 501 500 150 450 351 050 whereas 85% was on credit in 2022 47.21% 31.63% 52.01 days As the management accountant for Exquisite Furniture, you are responsible for analysing their management and financial accounts. You have been tasked with analysing the company's performance to see if they have room for expansion. You are required to calculate the ratios (a) to (h) for the year 2023. The 2022 ratios have been calculated as shown in the table above. Analyse the ratios and provide: causes for and effects of the increase or decrease between the year 2022 and 2023 financial years; and ways to improve the financial ratios.