TONS. QUESTION ONE (30 marks) i. Ratio analysis is a wastage of time and resources. Discuss. (4 marks) ii. The following details relate to BJ's business for the year ended 31 March 2020. Shs "Million" Sales Sales returns and allowances 33,984 380 Inventory (31 March 2019) valued at cost 1,378 Inventory (31 March 2020) valued at cost 1,814 Gross profit for the year 8,068 Operating profit for the year 6,055 Net profit before tax 5,965 50,173 Total assets Assume a tax rate of 30% Required: Calculate the following: a) The turnover for the year (1 mark). b) The cost of sales for the year (1 mark) c) The purchases for the year (1 mark) d) The rate of stock turnover for the year e) The gross profit margin for the year (1 mark) iii. f) The return on assets for the year g) The total assets turnover for the year (2 marks) (2 marks) (2 marks)