REQUIRED INFORMATION The following information was obtained from a project of Meron Limited MICRON LIMITED INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2010 mark Therefore to che profit of R250 000 mark INFORMATION Come made product from Pot k and the following budgeted details are 500 000 STO 000 130 000 190 000 Sau Sans Cost of les Gross profil Operating expenses Operating prull Intereste Probatore R750 000 R450 000 R170 000 30000s of the product respected to be unutached and said Income tax Protate tax 30000 15000) 21 000 QUESTIONS (20 Marks) REQUIRED 31 U normation provided below to calculate the blowing ratos. Where applicable round of 111 Go pro man 2018 R STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER Assets Non-currentes Inventories Accounts receivable Cash 2019 (R) 150 000 110000 150 000 TUDO 12 mars (2. mail 12 marts (2 marks) (2 marks) Zml (2) 12 marks) 113 betrumeve period 314 Tradece send 215 de period 316 Our Totalasses 180 000 400 000 11 Remployed 200 000 Equity and liabilities Shareholders equity Non-current Mobiles Accounts payable Total equly and labios 32 comment on the creation 3 Neon Lined expened a drop De passprott margin in 2019. Provide to pombers by te does the rate 2 marks) 150 000 0 000 130 000 100 000 [2 marks Note 1 2 3 All purchases of inventory and sales are on credit Credit purchases of inventory for 2019 amounted to R500 000 The current ratio for 2018 was 2081 REQUIRED Un them provided below to calculate the following: 221 Break even quantity (3 marks) The number of units regured to achieve anet profit of R250 000 INFORMATION Con Marutacture manufacture and sels one product from Project and the following budgeted details are Sales R750 000 R450 000 R170 000 Fixed costs 30 000 units of the product are expected to be manufactured and sold QUESTION (20 Marks) REQUIRED Use the information provided below to calculate the following ratios. Where applicable, round off answers to two decimal places 3.11 Gross profit margin (2 marks) 312 Operating profit margin (2 marks) 313 Inventory tumover period (2 marks) 314 Trade receivables period (2 marks) 315 Trade payables period (2 marks) 316 Current ratio (2 marks) 3.1.7 Acid test ratio (2 marks) 318 Return on capital employed (2 marks) (2 marks) 32 Comment on the current ratio calculated in question 3.1. Meron Limited experienced a drop in the gross profit margin in 2019. Provide two possible reasons for the drop in the ratio (2 marks) INFORMATION The following information was obtained from a project of Micron Limited: MICRON LIMITED INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2019 R Sales Cost of sales Gross profit Operating expenses Operating profit Interest expense Profit before tax 800 000 (670 000) 130 000 (90 000) 40 000 (10 000) 30 000 (9000) 21 000 Income tax Profit after tax STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: 2019 (R) 150 000 Assets 2018 (R) 130 000 110 000 150 000 Non-current assets 90 000 Inventories 170 000 70 000 Accounts receivable 10 000 Cash 480 000 400 000 Total assets Equity and liabilities Shareholders equity Non-current liabilities Accounts payable Total equity and liabilities 200 000 120 000 160 000 480 000 180 000 90 000 130 000 400 000 Note 1 All purchases of inventory and sales are on credit 2 Credit purchases of inventory for 2019 amounted to R660 000 3. The current ratio for 2018 was 2.08.1