Study the following financial statements of Hitcher Company, a retail firm and answer the questions that follow.

Hitcher Company Limited

Balance sheet as at 31st December, 2021

31/12/2021 Kaks. "ooos 7,000.00 2,000.00 13,000.00 9,000.00 69,000.00 100,000.00 31/12/2020 Kshs. '000s 4,000.00 4,000.00 9,000.00 7,000.00 66,000.00 90,000.00 Assets Cash Investments Debtors Stocks Building and Equipment (net) Liabilities and Capital Trade Creditors 12 % % Notes Payable Other Current Liabilities Long term Debt Ordinary Share Capital Profit and Loss A/C 6,000.00 2,800.00 5,200.00 24,000.00 30,000.00 32,000.00 100,000.00 6,900.00 3,200.00 5,900.00 20,000.00 30,000.00 24,000.00 90,000.00 Income statement for the year ended 31st December 2021 Kshs.000s Sales (Geskuksha: 35,000.00) 100,000.00 Cost of sales 58,000.00 Gross Profit 42,000.00 Selling & Administrative Expenses (16,000,00) Earnings before interest and Taxes 26,000.00 Interest Expenses (2,000.00) Profit before tax 24,000.00 Provision for taxation (8,000.00) Net Income after tax 16,000.00 Required: (a) For the two years, determine the following ratios:- (i) Current ratio. (ii) Average age of stock held. (iii) Debtor's turnover ratio. (iv) Return on capital employed (ROCE). (v) Times interest earned. (10 Marks) (b) For each of the ratios calculated above, evaluate the company's performance against the previous year and the industry performance given below:- (1) Inventory Turnover 7.5 times (ii) Times Interest Earned 8.3 times Total Assets Turnover 2.5 times (iv) Net profit Margin (v) Average age of stock 45 days (8 Marks) 28%