Position for the year ended 31 December 2020 2020 II ASSETS Non-current assets Total current assets Inventory Accounts receivable Cash and cash equivalents Total assets IV R52 720 V 600,000 600,000 EQUITY AND LIABILITIES Total equity Share capital Non-current liabilities Long term debt Current liabilities Accounts payable Bank overdraft Current portion of long term debt Total equity and liabilities VI VII 120,000 VII 20,000 IX He also supplied the following additional financial statement analysis data: The current ratio was 1.60. The debt ratio was 60%. The average collection period was 40 days The gross profit margin was 25%. Inventory turnover was 6.0. There are 365 days in the year. Sales totalled R1 800 000 The total asset turnover was 1.20. YOU ARE REQUIRED TO: Assist your varsity friend by completing his business statement of financial position at 31 December 2020 by using the information supplied to you. Show all your calculation clearly for each ligure missing (I-IX). NB: You can start with any figure. 30 Marks