The following information was extracted from the books of John Wilking and Sans Ltd for the financial year ending December 31, 2020: Details Fixed Assets 11,500,000 Gross profit 14,000,000 Accounts receivable 3,500,000 Stock, January 1, 2020 5,000,000 Operating expenses 6,000,000 Accounts payable 2,000,000 Net purchases 12,000,000 Net sales 24,000,000 Cash at bank & in hand 7,500,000 Cost of sales 10,000,000 Stock December 31, 2020 1,000,000 8,000,000 Net profit Required: (a) Gross peotit percentage (6) Net profit percentage (c) Current ratio (a) Liquid ratio (e) Average stock (1) Stock turnover Working capital (1) Debtors collection period (1) Explain to John Wilkins the purpose and meaning of two(2)of the following ratio calculated above. Current ratio (marles (2 marks) marks) (2 marker) marks) (2 marks) (2 marks) (2 marks) (4 martes) 1 Stock turnover Debtors collection penod