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 (340) (313) 18a (1,804) (950) (17) (1,683) (1,602) (26) Amounts due to Financial Services customers and other deposits 18b Borrowings 28 Derivative financial instruments 25 Deferred income tax liability (397) (241) (166) Provisions (160) 19 Net retirement benefit obligations (257) (4,288) 30 (3,668) 8,456 7,411 Net assets Equity Called up share capital 20 630 627 Share premium account 20 1,147 1,130 Merger reserve Capital redemption reserve 20 568 568 21 680 680 Other reserves 21 172 121 Retained earnings Total equity before perpetual securities Perpetual capital securities 4,763 3,789 23 7,960 6,915 22 248 248 248 Perpetual convertible bonds 22 248 Total equity 7,411 8,456 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 (340) (313) 18a (1,804) (950) (17) (1,683) (1,602) (26) Amounts due to Financial Services customers and other deposits 18b Borrowings 28 Derivative financial instruments 25 Deferred income tax liability (397) (241) (166) Provisions (160) 19 Net retirement benefit obligations (257) (4,288) 30 (3,668) 8,456 7,411 Net assets Equity Called up share capital 20 630 627 Share premium account 20 1,147 1,130 Merger reserve Capital redemption reserve 20 568 568 21 680 680 Other reserves 21 172 121 Retained earnings Total equity before perpetual securities Perpetual capital securities 4,763 3,789 23 7,960 6,915 22 248 248 248 Perpetual convertible bonds 22 248 Total equity 7,411 8,456