The financial statements of Aimi Enterprise for the year ended 31 December 2018

The financial statements of Aimi Enterprise for the year ended 31 December 2018 are as follows: Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2018 RM RM Sales 450,000 (-) Cost of sales: Opening inventory 25,000 (+) Purchases 200,000 (-) Closing inventory (15.000) (210.000) Gross Profit 240,000 (+) Revenues: Discount received 10,000 Commission received 8,300 18,300 (-) Expenses: Salaries and wages 41,300 Repair and maintenance 100.000 (141,300) Net Profit 117.000 RM Statement of Financial Position as at 31 December 2018 RM Non-current Assets Building 200,000 Motor vehicles 70,600 270,600 Current Assets Inventory Account receivables Bank Cash 15,000 46,500 30,150 10,500 102.150 372.750 Financed by: Owner's equity Capital 130.000 (+) Net profit (-) Drawing 117,000 (10.650) 236,350 95,000 Non-current Liabilities Long-term loan Current Liabilities Account payable 41.000 372.750 Required: a) Calculate the following ratios: i. Current ratio ii. Quick ratio iii. Inventory turnover ratio iv. Average collection period v. Gross profit margin Net profit margin vi. (24 marks) b) Give interpretation for each of the above ratios (6 marks) (Total: 30 marks)