Using the information extracted from the financial statements, calculate the following ratios for 2023 and 2022. ALL ratio formulas and calculations must be clearly shown:

(1) Return on Capital Employed

(2) Gross profit margin

(3) Current ratio

(4) Acid test ratio

(5) Gearing Ratio

(6) Interest Cover Ratio

(24 marks)

(12) RAY plc's income statements for the years ended 31 December 2022 and 2023 and the statements of financial position as at 31 December 2022 and 2023 are as follows (all figures shown are in .): Income statement for year to 31 December 2023