STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: Assets 2 Non-current assets 1. Inventories Accounts receivable Cash and cash equivalents Equity and liabilities Equity Non-current liabilities Accounts payable Additional information 3.1 3.1.1 The profit after tax for the year ended 31 December 2020 was R240 000 All purchases and sales of inventories are on credit. Use the information provided above to answer the following questions: 2021 (R) 2320 000 720 000 360 000 440 000 3840 000 2900 000 450 000 400 000 3 840 000 Calculate the ratio (expressed to two decimal places) for 2021 to reflect each of the following: The rate at which inventory is sold 3.1.2 The ratio of the company's net profit to its total revenue. 3.1.3 A comparison of the company's long-term debt to its equity. 3.1.4 An indicator of how profitable a company is relative to its total assets. 2020 (R) 1960 000 440 000 500 000 340 000 3.240 000 2040 000 820 000 380 000 3240000 (2 marks) (2 marks) (2 marks) (2 marks) STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: Assets 2 Non-current assets 1. Inventories Accounts receivable Cash and cash equivalents Equity and liabilities Equity Non-current liabilities Accounts payable Additional information 3.1 3.1.1 The profit after tax for the year ended 31 December 2020 was R240 000 All purchases and sales of inventories are on credit. Use the information provided above to answer the following questions: 2021 (R) 2320 000 720 000 360 000 440 000 3840 000 2900 000 450 000 400 000 3 840 000 Calculate the ratio (expressed to two decimal places) for 2021 to reflect each of the following: The rate at which inventory is sold 3.1.2 The ratio of the company's net profit to its total revenue. 3.1.3 A comparison of the company's long-term debt to its equity. 3.1.4 An indicator of how profitable a company is relative to its total assets. 2020 (R) 1960 000 440 000 500 000 340 000 3.240 000 2040 000 820 000 380 000 3240000 (2 marks) (2 marks) (2 marks) (2 marks)