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ABC Inc. is a Corporation with a focus on Garment and textile manufacturing in the UAE. They are now looking to finance their new project, are looking for a bank to give them a loan. Find the following ratios, interpret and analyze them: a) Current Ratio b) Acid Test Ratio c) Times Interest Earned Ratio d) Debt Ratio e) Accounts Receivable Turnover f) Inventory Turnover g) Days Sales in Inventory h) Average Collection Period [8 points] Based on the ratios calculated above, Can you conclude if any bank would easily give a loan to you? Justify your answer. [2 points] Standalone statement of comprehensive income Year ended 31 December 2018 AED AED Note 13 967213339 862141758 105.074081 813.481 889 222 094232 91.387.657 Revenue Cost of sales Grow profit Administrative and selling expenses Other income Reversal of provision for) impairment of trade receivables Operating profit 14 15 30.183,413) 978.095 (27.300 230) 11.221.261 6 4.167283 30.0365.46 13-716272) 67,553,016 (1.097.932) Finance cost Finance income Finance cost-net 18 18 18 (545,088) 3 SER (541540) (1.076, 776) 78.939.770 67,011,476 Profit for the year Other comprehensive income for the year Total comprehensive income for the year 78.939, 270 67011476 Standalone statement of financial position As at 31 December 2019 2018 AED AED Note ASSETS Non-current asset Property and equipment Investments in subsidiaries 4 1.213.395 1,012,984 1.343.52 2.356.566 1213.595 Current assets Inventories Trade and other receivables Due from related parties Loan to related parties Cash and bank balances Total assets 5 6 11 11 7 179413019 121.670.892 80,115.253 26318 239 407 517,973 409 74509 5.529.691 193,441,503 52 580,863 33.455.659 24.349,497 309 357 213 310.570, 808 3.900,000 358,743.239 36254239 3.900.000 279,803.469 283,703.400 EQUITY AND LIABILITIES EQUITY Share capital Retained earnings Total equity LIABILITIES Non-current liabilities Provision for employees' end of service benefits Current liabilities Trade and other payables Due to a related party Bank borrowings Total liabilities Total equity and liabilities 9 355.75 355.75 252.07 252.073 10 11 17 1.123.523 26,729,0654 19.022.928 46575 515 47,231,300 409,574,519 6,079,568 20415438 120.260 26,615.266 26,867,339 310.570,308