Quandock plc is a trading company which makes all of its sales and purchases on credit terms. The company's financial statements for the year to 31 December 2017 (with the comparative figures for 2016) are shown below. [900 words] Sales revenue Cost of Sales Gross Profit Operating Expenses Profit before interest and tax Interest Profit before taxation Taxation Profit for the year Non-current Assets Property, plant and equipment Trade receivables Cast at bank and in hand Quandock Plc Statement of Profit and Loss 31 December 2017 Current Assets Inventories (2015: 670,000) TOTAL ASSETS Equity Ordinary shares Retained earnings Total Equity Non-current Liabilities Long-term loans Quandock Plc Statement of Financial Position 31 December 2017 Current Liabilities Trade payable Taxation (Accruals) TOTAL EQUITY & LIABILITIES 740 820 560 2017 ( '000) 5,000 (3,660) 1,340 (380) 960 (80) 880 870 250 2016 ( '000) 1,730 2,120 3,850 1,000 930 1,930 800 (250) 630 690 760 340 770 1,120 210 3,850 2016 ( '000) 4,550 (3,330) 1,220 (400) 820 (100) 720 (210) 510 2017 ( '000) 1,820 1,790 3,610 1,000 630 1,630 1,000 980 3,610 Required: Calculate a set of accounting ratios (for each of the two years) which may be used to judge the company's profitability, liquidity and efficiency