QUESTION 3 FINANCIAL ANALYSIS (20) Extracts from the financial statements of Sky Rocket Limited for the year ended 31 December 2018 are given below: Extract of the Statement of Comprehensive Income. Sales (credit) Cost of sales Gross profit Operating expenses Operating profit Interest expense Profit before tax Tax paid Profit after tax Rand 4 300 000 2 310 000 1 990 000 1 255 000 735 000 87 000 648 000 194 400 453 600 495 000 423 750 Extract of the Statement of Financial Position. Non-current assets Current assets Inventory 223 750 Debtors 175 000 Bank 25 000 Total assets 918 750 Owner's equity Non-current liabilities Current liabilities Creditors Total equity and liabilities 562 500 255 000 101 250 101 250 918 750 Required: Calculate the following ratios and round off answers to two decimal places. 3.1 Profit margin 3.2 Debtors collection period 3.3 Return on assets 3.4 Acid test ratio 3.5 Return on own capital SES