The following information is relevant to Majakathata (Pty) Limited: Majakathata (Pty) Limited Statement of profit and loss for the year ended 31 December 2021 2021 2020 R Sales Less: cost of sales Gross margin Distribution costs Administrative expenses Profit from operations Interest expense Income before tax Income tax Net profit for the period 2 300 000 1 610 000 690 000 120 000 150 000 420 000 50 000 370 000 111 000 259 000 R 1 160 000 1 120 000 480 000 80 000 140 000 260 000 60 000 200 000 60 000 140 000 Majakathata (Pty) Limited Statement of financial position for the years ended 31 December 2021 and 2020 2021 2020 R R Assets Current assets Inventories Trade receivables Cash and cash equivalents Prepayments Non-current assets Plant and equipment Total assets 300 000 280 000 280 000 100 000 300 000 220 000 280 000 120 000 3 080 000 4 040 000 3 000 000 3 920 000 R 1 270 000 1 600 000 R 1 300 000 1 320 000 Equity and liabilities Capital and reserves Issued capital Accumulated profit Non-current liabilities Interest bearing borrowing Current liabilities Trade payables 750 000 800 000 420 000 4 040 000 500 000 3 920 000 REQUIRED: 3.1 Using the information provided above calculate the following ratios for 2021 and 2020. 3.1.1 Current ratio (2) (2) (2) 3.1.2 Debt ratio 3.1.3 Operating profit margin 3.1.4 Debtors collection period Comment on the results of the ratios calculated in 3.1.2 and 3.1.4 (2) 3.2 (4) [12]