Task C Calculate Gearing and Debt ratios for 2019 and 2018 for Sainsbury's Group Plc. Comment on the ratios you have calculated and the changes over the two years. (25 marks) Non-current liabilities Other payables Amounts due to Financial Services customers and other deposits Borrowings Derivative financial instruments Deferred income tax liability Provisions Net retirement benefit obligations (340) (1,804) (950) (17) (397) (160) (313) (1,683) (1,602) (26) (241) (166) (257) (3,668) 8,456 (4,288) 7,411 Net assets Equity Called up share capital Share premium account Merger reserve Capital redemption reserve Other reserves Retained earnings Total equity before perpetual securities Perpetual capital securities Perpetual convertible bonds Total equity 630 1,147 568 680 172 4,763 627 1,130 568 680 121 3.789 7,960 248 248 8,456 6,915 248 248 7,411