Question 1 The Financial Statements for Uptown PLC. to the 314 December 2019 and 2018 are shown below: Em 220 Statement of Profit & Loss for Uptown PLC to 31 December 2019 2018 Em Turnover 236 Cost of sales -121 -110 Gross profit 115 110 Administration costs -25 -22 Distribution costs -50 -50 PBIT 40 38 Finance costs -15 -10 Profit before taxation 25 28 Taxation -7 Profit after taxation 19 21 Statement of Financial Position for Uptown PLC as at 31 December Non-current assets (at net book value) 286 240 Current assets: Inventory 30 28 Receivables 15 30 Cash & Bank 35 7 Total current assets 80 Total assets 366 305 Capital & Reserves: Share capital Accumulated profits 18 120 70 190 150 340 120 60 180 100 280 Non-current liabilities: loan Current liabilities: Payables Taxation Total capital & liabilities 20 18 7 26 366 25 305 Required: a. Calculate EIGHT accounting ratios for both 2019 and 2018 to enable the assessment of the profitability, liquidity and working capital management of Uptown PLC over the two year period. (24 marks) b. Prepare a report analysing the performance of Uptown PLC with reference to the ratios calculated in (a), and the financial statements. (26 marks)