Question 2 The following comparative information of Jan-Stones Limited is given: Jan-Stones Limited Statement of Financial Position As At 30 June Assets 2018 2017 $ $ $ Non Current Assets Equipment, at NBV 29,000 53,000 Current Assets Inventory Trade Receivables Prepaid expenses Cash Total assets 146,200 156,800 7,000 102,200 412,200 441,200 135,000 115,800 8,000 93.400 352,200 405 200 Equity Ordinary Share Capital Retained earnings 180,000 96.200 276.200 180,000 50,200 230.200 Current Liabilities Trade Payables 154,800 Accrued salaries payable 10.200 165,000 Total Equity and Liabilities 441,200 164 200 10,800 175,000 405,200 2017 Jan-Stones Limited Summarized Income Statements As At 30 June 2018 Sales $ 567,000 $ 620,000 Cost of Goods Sold 279,200 350,000 Gross profit. 287,800 270,000 Profit Before Taxes 169,300 148,900 Required: (a) Calculate the following ratios for each of the 2 years: i. Current Ratio il. Acid-Test Ratio ill. Gross Profit Ratio iv. Net Profit Ratio [4 marks) [4 marks) (4 marks] 4 marks) (b) From the results of the ratios computed, what advice would you give to the management regarding the state of the business? (4 marks) [Total: 20 marks) Par