QUESTION 3 INFORMATION Excerpts of the financial statements of Infosys Limited for 2019 are as follows: Statement of Comprehensive Income for the year ended 31 December 2019 R Sales (all credit) 9 240 000 Cost of sales 7 800 000 Gross profit 1 440 000 Operating expenses 1 080 000 Operating profit 360 000 Interest expense 140 000 Profit before tax 220 000 Tax 61 600 Profit after tax 158 400 Statement of changes in equity for the year ended 31 December 2019 Dividends for the year R 62 000 Statement of financial position as at 31 December 2019 R Assets Non-current assets Inventories Accounts receivable Cash 1 220 000 1 450 000 770 000 225 000 3 665 000 Equity and Liabilities Ordinary share capital Retained earnings 1 000 000 960 000 Long term loan (12%) 520 000 Accounts Payable Other current liabilities 460 000 725 000 3 665 000 REQUIRED 3.1 Use the information provided above to calculate the following ratios for Infosys Limited for 2019. Where applicable, round off answers to two decimal places. Gross margin Debtors collection period Return on assets Return on equity Earnings retention ratio Acid test ratio 3.2 REQUIRED Use the information provided below to: Calculate the incremental profit/loss after tax. Determine the return on sales if these new customers are accepted. INFORMATION: Superga Enterprises is considering extending credit to some customers. Sales will increase by R400 000 if credit is granted to these customers. From the new accounts receivable generated, 6% is expected to be uncollectable. Additional collection costs will be 3% of sales and production and selling costs will be 70% of sales. The corporate tax rate is 28%. Guidelines: All answers must be typed out and workings must be showing