Question 2 The following information relates to two companies, Vola Limited and Kola Limited operating in the same industry, retailing fast fashion apparels. Income Statements for the year ended 31 December 2021 Vola Limited Kola Limited $000 $000 Sales 30,000 18,000 Cost of goods sold 15,?501 {8,2001 Gross profit 14,240 9,800 Less: Operating expenses g9,3001 {1770} Net income 4,940 2,030 Vola Limited Kola Limited $000 $000 Assets Properly, plant and equipment at net book value 8,000 T300 Closing Inventory 2,000 1,800 Trade receivables 4,530 2,300 Cash 2,110 1,365 Total assets 16,640 13,165 Eguiy: Share ICapital 10,000 9,500 Retained earnings 4,940 2,030 Total equity 14,940 11,530 Liabilities: Trade payables 1,600 1,581 Accruals 100 54 Total liabilities 1,?00 1,835 Total liabilities and equity 16,640 13,165 a) You are required to assist the Finance manager in calculating the following ratios for both the companies. i. Current Ratio. [3 marks] ii. Acid-Test Ratio. [3 marks] iii. Gross Profit Margin. [3 marks] iv . Net Profit Margin. [3 marks] V. Trade receivables collection period. [3 marks] vi. Trade payables payment period. [3 marks] b) From the results of the ratios computed, comment on the performance and financial position of the two firms [6 marks]