QUESTION 2 (15 MARKS) The following is Mandela (Pty) Ltd statement of financial position for the year ended 31 December 2022 2022 2021 Assets Non-Current assets 1 146 000,00 1 254 000,00 Property plant and equipment 996 000,00 1 134 000,00 Investments 150 000,00 120 000,00 Current assets 834 000,00 975 000,00 Cash and cash equivalents 48 000,00 Inventory 480 000,00 750 000,00 Trade receivable 306 000,00 225 000,00 Total Assets 1 980 000,00 2 229 000,00 Equity and reserves 1 134 000,00 996 000,00 Share Capital 600 000,00 600 000,00 Retained Earnings 534 000,00 396 000,00 Non-current liabilities 300 000,00 240 000,00 Debentures 300 000,00 240 000,00 Current liabilities 546 000,00 993 000,00 Bank overdraft 330 000,00 Shareholders for dividend 24 000,00 18 000,00 Trade and other payables 522 000,00 645 000,00 1 980 000,00 2 229 000,00 Additional information Turnover for the year ended 31 December 2022 amounted to R12 000 000. The gross profit percentage is 25% Half of the turnover is credit sales and 75% of purchases are credit purchases. Required Calculated the following ratios for the year ended 31 December 2022 2.1 Debt ratio (3 Marks) 2.2 Current ratio (2 Marks) 2.3 Quick ratio (2 Marks) 2.4 Debtors collection period (3 Marks) 2.5 Creditors payment period (2 Marks) 2.6 Debt to equity ratio (3 Marks) END OF PAPER