QUESTION 3 The condensed Statement of Financial Position and income statement of Kenangan Sdn Bhd appear as follows: 2018 Kenanga Sdn Bhd Balance Sheets as at 31 December 2019 2019 Current Assets: Cash 25,000 Accounts receivables 50,000 Other current assets 90,000 20,000 45,000 85,000 Fixed osse Non-Current Assets Plant and machinery Equipment 400,000 75,000 370,000 70,000 TOTAL ASSETS 640,000 590,000 Equity Ordinary share RM10 par Retained earnings 340,000 145,000 300,000 125,000 Non-current Liability Bank loan 80,000 85,000 Current Liability Accounts payable Other current liabilities 45,000 30,000 43,000 37,000 TOTAL EQUITY AND LIABILITIES 640,000 590,000 Kenanga Sdn Bhd Income Statements for the years ended 31 December 2019 2019 2018 Revenue Sales 740,000 700,000 Sales return and allowance (40,000) (50,000) Cost of goods sold (420,000) (400,000) Gross profit 280,000 250,000 Expenses Operating expenses (236,000) (218,000) Profit for the period 44,000 32,000 REQUIRED: 1. a. Compute the following ratios for the year 2019: Current ratio b. Assets turnover c. Debt to total assets ratio/Debt ratio y vowy d. Profit margin 2. Compare and explain the ratios calculated above with the industry average as listed below: a. Current ratio: 1.8 b. Assets turnover: 1.03 times Debt to total assets ratio: 0.1 times d. Profit margin: 8.2% C