REQUIRED 4.1 Use the information provided below to calculate the following ratios for the financial year ended 31 December 2019. (Where applicable, express answers to two decimal places) 4.1.1 Gross margin (2 marks) 4.1.2 Current ratio (2 marks] 4.1.3 Relum on equity (2 marks) (2 marks] 4.14 Inventory turnover 4.1.5 Debt to assets (2 marks) 416 Earnings per share 2 marks) 4.1.7 Debtors collection period (2 marks) 4.2 Comment on the following ratios that have been calculated for Mersal Limited. Provide two significant comments for each Ratio 2019 2018 4.2.1 Return on assets 23.15% 20.25% (2 marks) 42.2 Creditors payment period 6832 days 59.56 days (2 marks) 4.2.3 Adid test ratio 2.36.1 0.871 12 marks) INFORMATION Excerpts of the francial data of Mersal Limited for 2019 are as follows: STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019 Sales Cost of sales Operating proft Interest expense Profit before tax Profit after tax R 6 600 000 4614 000 1446 000 240 000 1 205 000 868 320 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2019 R ASSETS Non-current assets Inventories Accounts receivable Cash 3840 000 342 000 1440 000 624 000 6 246 000 EQUITY AND LIABILITIES Ordinary share capital Retained earnings Long-term loan Accounts payable 600 000 516 000 4254 000 876 000 6 246 000 B/S Additional information 1 Inventories on 31 December 2018 amounted to R276000. 2 Al purchases and sales of inventory are on credt 3. 250 000 ordinary shares have been issued by the company 4. The credit forms offered by suppliers are 60 days