QUESTION THREE [30] You have recently joined Touchstone Jewellers Ltd as financial manager. The following information extracted form Touchstone Jewellers Ltd books is provided to you: ASSETS Non-current assets Property, plant and equipment carrying 24400 amount EQUITY AND LIABILITIES Equity Required: Calculate the following financial ratios for 2021 : 3.1 Current ratio \begin{tabular}{c} 20000 \\ 18240 \\ 6760 \\ \hline 45000 \\ R69 \\ 000 \\ \hline \end{tabular} 3.2 Acid test ratio (3) 3.3 Stock turnover rate (3) (3) 3.4 Debtor collection period 3.5 Creditor payment period assuming that 75% of purchases are on credit 3.6 Profitability of the business 3.7 Profitability on own capital 3.8 From the ratios obtained above, write a report on the liquidity and profitability of Touchstone Jewellers Ltd