The following information appeared in the accounting records of Toodo Enterprises: Extract from the Statement of Comprehensive Income for the year ended 31 March 2022

1,040,000

Required: Calculate and comment on the following ratios (where applicable round off answers to two decimal places):

4.1 Gross margin (4)

4.2 Current ratio (4)

4.3 Acid-test ratio (4)

4.4 Debtors collection period (4)

4.5 Inventory turnover (4)

4.6 Return on assets (5)

Extract from the Statement of Comprehensive Income for the year ended 31 March 2022 Extract of the Statement of Financial Position as at 31 March 2022