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Question 4 Set out below are Statements of Financial Posion at the end of December 20X8 and 20X9. and also, Statement of income for the year ended 31 December 20X8 and 20x9 for ABC Ltd ABC Ltd Statement of Financial Position 20X9 ,000 20X8 .000 ASSETS Non-current assets Machinery Motor Vehicles Investments 2.100 394 2.240 441 2.834 3.021 Current assets Inventory Trade receivables Cash 563 1,181 9 1.321 Total assets 1.753 4587 3.000 EQUITY AND LIABILMES Equity Share capital Retained earnings Non-current liabilities Long-term loan Current liabilities Trade payables Accrued Expenses Tax payable Short term borrowing 600 600 0 498 15 24 97 400 Total equity and liabilities 4587 ABC Ltd Statement of Profit or Loss 20x9 20x8 ,000 ,000 .000 ,000 3.461 3.296 398 253 2.623 2.835 (563) (398) (2.458) (2.240) 1.003 1,056 187 17 24 239 32 94 Revenue Opening inventory Purchases Closing inventory Cost of goods sold Gross profit Distribution costs: Depreciation Irrecoverable debt Advertising Administrative expenses: Rent Salanes and wages Miscellaneous expenses Operating profit Dividend received Finance cost Profit before tax Income tax expenses Profit after taxation (228) (365) 60 302 177 60 310 159 (599) 176 - (60) T10 (535) 156 51 (53) 154 (39) 115 91 Required (a) Calculate the following ratios forthe year ended 31 December 20X8 and 31 December 20X9 and compare each ratio with the previous year. (15 marks) 1. Return on Capital Employed (%) 2. Gross profit percentage (%) 3. Operating profit percentagels) 4. Assets turnover ratio (use capital employed) (times) 5. Quick/Acid test ratio times) 6. Debtors collection period (days) 7 Earning per share pence) State clearly the formulae used for each ratio and show all workings. (D) Based on your calculation and the information available write a brief report on the financial performance and position of ABC Ltd. (10 marks