The following represents the Final Accounts and Balance Sheet of JAKES Enterprise Ltd. for the financial year ending December 31, 2021: Trading & Profit & Loss Accounts for period ending December 31, 2021 Details Net sales Less: Cost of sales $ 1,200,000 (660,800) Gross profit 539,200 Less: Selling and administration expenses (209,000) Profit before interest and taxation 330,200 Less: Interest (30,500) Profit before taxation 299,700 Less: Taxation @ 30% (25,500) Net profit after tax 274,200 Details/Accounts Fixed Assets Balance Sheet as at December 31, 2005 Cost Accumulated Depreciation Net Book Value Buildings & Equipment 750,000 124,000 626,000 Motor Vehicles 930,000 120,000 810,000 Computers 60,000 25,000 35,000 1,740,000 269,000 1,471,000 Current Assets Stock 32,000 Accounts Receivable Cash 43,000 45,000 120000 1.591.000 Financed by: Capital & reserves Ordinary/equity shares 1,208,000 Revenue reserves 352,000 1560,000 Current liabilities Accounts Payable Note: Opening stock was valued at $24,000 Required Calculate: 31,000 1.591.000 (a) Gross profit percentage. (b) Net profit percentage. (3 marks) (3 marks) (c) Current ratio. (3 marks) (d) Liquid ratio. (3 marks) (e) Debtor's collection period. (4 marks) (f) Interpret the results that you calculated in part (d) and (e) above. (4 marks)