The following information relates High Rated Limited for the year ending 31 October 2022. Statement of comprehensive income for the year ended 31 October 2022 2021(R) Sales Less: Cost of Sales Gross profit Add: other income Loss: other expenses Net operating profit for the year Statement of financial position as at 31 October 2022 2022(R) 650 000 (451 612) 755 000 (516 130) 198 388 238 870 4 918 3 278 (130 646) (127 422) 72 660 114 726 2022 (R) 2021 (R) Assets Non-current assets 935 484 940 322 Land and buildings 887 096 887 096 Vehicles at carrying value 48 388 53 226 Current assets 172 580 119 356 Inventories 93 548 53 226 Trade and other receivables 79 032 50 000 Cash and cash equivalents Total assets 16 130 1 108 064 1 059 678 Equity and liabilities Owner's equity 435 484 337 096 Non-current liabilities 604 838 666 130 Long-term loan 201 612 241 936 Mortgage loan 403 226 424 194 Current liabilities 67 742 56 452 Trade and other payables 35 484 33 870 Bank overdraft 4 838 Sars (VAT) 27 420 22 582 Total equity and liabilities 1 108 064 1 059 678 82 ANNEXURE H-FORMATIVE ASSESSMENT 2 Additional information: All sales are on credit. 82% of all purchases are on credit Purchases equal 62% of cost of sales. Assume that they are 365 days in a year. Required: HACP13D-1-JULY-DEC2022-FAZ-GT-V2-15072022 Calculate the following ratios for the year 2022. Clearly indicate the formula that you will use and show all your calculations. Round your answer to two decimals. a) Net profit percentage. (3 Marks) b) Gross profit percentage. (3 Marks) c) Trade payables settlement period. (Clearly indicate your workings of Credit purchases) (6 Marks) d) Trade receivables collection period. e) Quick (acid test ratio) (4 Marks). (4 Marks)