QUESTION 3 (CONTINUED) c) The following is an extract of selected items from the comparative statem loss and other comprehensive income of Company Y for five yea 2018 2017 2016 2015 2014 R000 R'000 R000 R000 R'000 15 223 12 225 13556 9986 7056 (850) (989) (776) (678) (569) 5 333 3 765 4 155 2314 1415 Revenue Distribution costs Earnings before interest and tax (EBIT) REQUIRED Redraft other Round your figures to the full percentage.] the extract of the selected items from the comparative statement of profit or loss and comprehensive income of Company Y by using the indexed statement technique. d) The following extracts of information from the statement of financial position and the statement of profit or loss and other comprehensive income for Letaba Limited for the year ending 31 December 2018 is available: Share Capital Retained earnings Sales (70% on credit) Gross profit Total expenses Bank overdraft Trade and other creditors Property, plant and equipment Fixed deposit Inventories Trade and other receivables Long-term loan 390 000 55 000 890 000 290 000 69 000 22 000 19 500 490 000 70 000 50 000 240 000 Additional information: The opening balances for inventories and trade and other receivables are R60 0 1. 00 and R90 000 respectively 2. There are 365 days per annum. 3, Value added tax (VAT) is calculated at a rate of 15%. 4. The current company tax rate is 28%. 5. The fixed deposit will only be available on 30 June 2020. MAC2602/101/3/2019 QUESTION 3 (CONTINUED REQUIRED Calculate the following ratios for 2018. ) Show the formula and detailed calculations. (i) Briefly erpiain what the ratio means/indicates and (i) compare it to the industry ratios provided in brackets below and comment thereon: (1) Acid test ratio (1,5:1) (1l) Debtors collection period (based on closing debtors) (15 days) (II) Inventory turnover (based on average inventory) (1,5 times) (5) 2 25]