Shopping Spree (PTY) LTD is a fashion retailer and has the following financial information:

Pre-adjustment trial balance of Shopping Spree (PTY) LTD for the year ended 31 Dec 2019
	Debit	Credit
Statement of comprehensive income section:
Other operating income		100 000
Purchases	620 000
Interest expense	50 000
Depreciation	80 000
Sales		1 500 000
General, selling and administration expenses	360 000
Statement of financial position section:
Property, plant and equipment at carrying value	2 920 000
Inventory (01.01.19)	120 000
Accounts receivable	110 000
Retained Earnings (01.01.19)		955 000
Share capital		1 000 000
Long-term loan		605 000
Accounts payable		55 000
Bank		45 000
	4 260 000	4 260 000

Additional information:

1. The company pays tax at the rate of 28%. This has not yet been provided for and recorded.
2. Inventory at 31 December 2019 was R80 000.
3. 70% of sales was sold on credit and 80% of purchases was purchased on credit.

The following ratios are provided for the company and the industry within which it operates:

No		Industry (2019)	Company (2018)	Company (2019)
1	Current ratio	1:1	1:1
2	Quick ratio	0.6:1	0.6:1
3	Gross Profit Margin	60%	55%
4	Net Profit Margin	20%	22%
5	Financial cost coverage ratio	8 times	7.5 times
6	Debt ratio	30%	30%
7	Debtors' collection period	45 days	35 days
8	Creditors' Payment Period	30 days	40 days
9	Return on Equity	25%	20%
10	Inventory days	60 days	50 days

Required:

1. Calculate the applicable financial ratios for Shopping Spree (PTY) LTD for the financial year ended 2019. (Fill in the ratio box and show all relevant workings) (20 marks)

2. Analyse the efficiency of the company using the debtors collection period, creditors payment period and the inventory days. (10 marks)